President Trump has announced sweeping 30% tariffs on imports from the European Union and Mexico, igniting fresh trade tensions. Starting August 1, key sectors like auto parts, electronics, agriculture, and pharmaceuticals could see massive price hikes. The EU had hoped for a trade deal, but escalating tariffs now threaten negotiations. With over 60% of U.S. vegetables and 71% of drywall materials coming from Mexico, American households could see grocery and construction costs soar—up to $1,200 more annually. Retaliatory tariffs from affected countries may soon follow.
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