US President Donald Trump announced today the imposition of 30% tariffs on all products from the European Union (EU) and Mexico, starting August 1.

Trump announced tariffs on two of the United States' largest trading partners in letters posted on his Truth Social platform.

The tariffs will take effect on August 1, Trump said, citing Mexico's role in smuggling illegal drugs into the United States and a trade imbalance with the EU.

"From August 1, 2025, we will charge the European Union a tariff of only 30% on EU products shipped to the United States, regardless of all sectoral tariffs," reads the letter published in Truth Social and addressed to the President of the European Commission, Ursula von der Leyen.

In this letter, Trump also stated that the US trade deficit posed a threat to national security.

"We have had years to discuss our trade relationship with the European Union and have concluded that we need to move away from these long-term, large and persistent trade deficits generated by tariff and non-tariff policies and trade barriers," the US President wrote.

As he did in previous days with other countries, Trump announced that he will reverse his decision"if the European Union or its companies decide to manufacture products in the United States."

"Indeed, we will make every effort to obtain approvals quickly, professionally and routinely - that is, within a few weeks," the letter adds, before warning, also following the usual format, that if, for any reason, the EU decides to increase tariffs and retaliate,"the amount it decides to increase them will be added to the 30%" already announced.

In his letter to the Mexican leader, Trump acknowledged that the country has helped stem the flow of undocumented migrants and fentanyl into the United States.

However, he said the country had not done enough to prevent North America from becoming a"drug trafficking playground."

"There will be no tariffs if Mexico or Mexican companies choose to build or manufacture products in the United States, and in fact, we will do everything possible to have this approved quickly, professionally, and routinely within a matter of weeks," Trump said, repeating the appeal made to other countries.