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Today (12th), President Donald Trump unveiled the latest wave of tariff rates for various countries, announcing a 30% tariff on imports from Mexico and the European Union (EU) effective August 1st. Trump took to social media to express that he has sent letters to the leaders of both the EU and Mexico, indicating that this new tariff will come into effect next month.

This move continues Trump’s broader trade policy, as he has already made announcements regarding tariffs in three previous waves impacting countries like Japan and South Korea; however, Taiwan has not been included in any of these lists to date.

In the context of reinforcing the American economy, Trump’s administration aims to use these tariff rates to promote domestic industry. By imposing tariffs, the government intends to diminish reliance on foreign goods, thus strengthening the competitiveness of the U.S. market.

Additionally, this policy has sparked widespread attention and debate among economists, many of whom express concern that such measures may incite a trade war, potentially posing long-term risks and impacts on the American economy.

As the international trade environment becomes increasingly complex, Trump’s tariff policies undoubtedly present challenges to the global economic landscape. Experts caution that any nation implementing protectionist trade measures should carefully consider the long-term effects to avoid undermining the stability of international trade.