"A 30% tariff on EU goods going to US would have a significant trade destruction effect. The threat to meet any EU tariff retaliation with a further and equal percentage point inc

President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States’ biggest trade partners in letters posted to his social media account.

Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.

President Donald Trump threatened to double the baseline universal tariff to 20%, citing record stock gains to dispel fears that such a move would hammer the global economy. Even as financial markets barely budged on the news,

With the S&P 500 notching records despite promises that more tariffs are coming to everyone from Canada to Brazil to Algeria, Trump told NBC in an interview: “I think the tariffs have been very well-received.