President Trump has threatened to increase Mexico’s tariff rate to 30 percent starting Aug. 1, claiming the country hasn’t sufficiently tackled drug cartels.

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

President Trump is reportedly pushing for higher blanket tariffs on imports from the European Union, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect. The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal.

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%.

Most European markets took a hit as trading resumed in the wake of President Trump's latest tariff threats, and as the EU keeps hoping for a deal.

Rep. Tony Gonzales (R-Texas) said he supports President Trump’s approach to tariffs on Mexico, even though he acknowledged the tax on imported goods will likely hurt Texans if it takes effect. In

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

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

Trump’s tariffs spark a nationalist reaction in Latin America. Is the U.S. president a godsend for the region’s leftist leaders?