Donald Trump said on Saturday that major U.S. trading partners Mexico and the European Union will face 30% tariffs starting next month. The tariffs will take effect on August 1, Trump said in separate letters published on his Truth Social platform. He cited Mexico's role in illegal drug trafficking into the United States and a trade imbalance with the EU as reasons.

The tariffs are higher than the 25% tariff Trump imposed on Mexican goods earlier this year, although products entering the United States under the U.S.-Mexico-Canada agreement are exempt from tariffs.

Canada earlier received a similar letter, imposing 35% tariffs on its goods.

The EU tariffs are also significantly higher than the 20% tariff Trump announced in April, as negotiations with the bloc continue. The EU, along with dozens of other economies, saw a 10 percent increase in U.S. tariffs on Wednesday, but Trump pushed back the deadline until August 1.

Since the beginning of the week, he has sent letters to more than 20 countries with updated tariffs for each of them. | BGNES, AFP