Trump, Mexico and EU
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Mexico tomato tariff won't affect his prices
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Mexican President Claudia Sheinbaum on Tuesday said Mexico will take action if an agreement with Washington regarding new tariffs is not reached by the August 1 deadline set by her U.S. counterpart Donald Trump.
Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.
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Rep. Tony Gonzales (R-Texas) said he supports President Trump’s approach to tariffs on Mexico, even though he acknowledged the tax on imported goods will likely hurt Texans if it takes effect. In
President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.
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If a 30 percent tariff on Mexico goes into affect on August 1, a wide variety of foods will be more expensive, experts warn.
If implemented, Trump's new 35 percent duties will be "separate from all Sectoral Tariffs," such as the 50 percent tariff on steel and aluminum imports. Trump also promised that, if Canada raises its own tariffs in response, then "whatever number [Canada chooses] to raise them by, will be added onto the 35% that [the U.S. charges]."