Trump Threatens 30% Tariffs on EU and Mexico as Talks Continue

President Donald Trump unleashed his latest tariff ultimatums, declaring a 30% rate for Mexico and the European Union, as his trade agenda continues to keep allies off balance and inject uncertainty into global financial markets.

Trump made the announcement in two letters posted to social media Saturday as he informed key trading partners of new rates that will kick in on Aug. 1 if they cannot negotiate better terms.

He has spent the week sending out letters to a number of countries, tweaking his proposed tariff levels from April and inviting trading partners to negotiate further.

The EU had been ...