Dow futures drop nearly 200 points after Trump slaps 30% tariff on Mexico and the EU: Live updates
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EU Delays Retaliatory Tariffs Against U.S.
Above: President of the European Commission Ursula von der Leyen at the EU Commission headquarters on July 13, 2025, in Belgium. Image copyright: Thierry Monasse/Getty Images
The Spin
Pro-Trump narrative
These tariffs are necessary to address massive trade imbalances that threaten American national security and economic interests. The EU has maintained unfair trade barriers for years, creating unsustainable deficits that hurt American workers and businesses. Mexico hasn't done nearly enough to stop the fentanyl crisis from killing Americans, and the EU has maintained massive trade surpluses while blocking American products with its barriers.
Anti-Trump narrative
Trump's tariff threats are reckless negotiating tactics that will harm consumers on both sides of the Atlantic through higher prices and economic uncertainty. The 30% rate would disrupt global supply chains. It will also ultimately hurt American consumers through higher prices on everything from cars to pharmaceuticals. The EU and Mexico were already negotiating in good faith, and these sudden escalations destroyed trust while risking a devastating trade war.