STORY: U.S. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1.
This follows weeks of negotiations with the key U.S. allies and top trading partners that failed to lead to a comprehensive trade deal.
The fresh tariffs were announced in separate letters to European Commission President Ursula von der Leyen and Mexico's President Claudia Sheinbaum posted on Truth Social.
Spokespeople for the EU and Mexico said they were notified about the letters ahead of time.
Von der Leyen responded on social media saying quote, "We remain ready to continue working towards an agreement by August 1. At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required."
While Mexico's economic ministry said it hopes to reach an agreement with the U.S. before August 1st.
Trump has sent similar letters to 23 other U.S. trading partners this week, including Canada, Japan and Brazil.
Trump said the 30% tariff rate was "separate from all sectoral tariffs", which means 50% levies on steel and aluminum imports and a 25% tariff on auto imports would remain at those levels.
The August 1 deadline gives countries targeted by Trump's letters time to negotiate a trade deal that could lower the threatened tariff levels.
The spate of letters shows Trump has returned to the aggressive trade posture that he took in early April when he announced a slew of reciprocal tariffs against trading partners that sent markets tumbling before the White House delayed implementation.
But with the stock market hitting record highs in recent weeks and a bullish economy, Trump is showing no signs of slowing down his trade war.
