While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10 percentage points higher than what the president said he would apply to America's largest trading partner in April but lower than his mid-May threat of 50%.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

U.S. President Donald Trump over the weekend said he would slap a 30% tariff on goods imported from the European Union from Aug. 1. EU leaders have said they are still aiming to come to an agreement with the U.S. before the tariffs kick in. Economists said they still expect that a framework agreement can be reached in time.