Trump’s latest tariff moves: 5 things to know – Becker’s Hospital Review | Healthcare News

President Donald Trump has announced new tariff actions targeting major U.S. partners, including the European Union, Mexico and Canada. 

Here are five things to know: 

1. President Trump said that all imports from the EU and Mexico would face a 30% tariff starting Aug. 1, excluding sectoral tariffs such as the 25% auto tariff, CNN reported July 13. He posted letters to EU Commission President Ursula von der Leyan and Mexico President Claudia Sheinbaum, stating the tariffs were intended to achieve more “balanced and fair trade.”
2. Ms. Leyan said a 30% tariff would hurt supply chains, businesses and consumers, adding that the EU “will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.” French President Emmanuel Macron echoed the view, writing in a post to X, “In particular, this implies speeding up the preparation of credible countermeasures, by mobilising all the instruments at its disposal, including anti-coercion, if no agreement is reached by August 1.”
3. President Trump also imposed 35% tariffs on Canadian goods, effective Aug. 1, ABC News reported July 11. In a letter to Canadian Prime Minister Mark Carney, he cited fentanyl trafficking and unfair trade practices. In addition, President Trump warned that any further retaliation would result in even higher U.S. tariffs. In response, Mr. Carney posted a 114-word statement on X stating, “Throughout the current trade negotiations with the United States, the Canadian government has steadfastly defended our workers and businesses. “We will continue to do so as we work towards the revised deadline of August 1.”
4. Mexico’s Minister of Economy Marcelo Ebrard posted on X that a Mexican delegation told U.S. officials that the tariff rate would be “unfair treatment and that we did not agree.” In a speech July 12, Ms. Sheinbaum stated, “The letter clearly states that the aim is to reach an agreement so that these tariffs are not imposed,” and added that she is confident about reaching an agreement with the U.S.
5. President Trump warned that tariffs of up to 200% could soon hit pharmaceutical imports. Analysts at UBS and Barclays warned that the move would raise drug prices and compress margins, CNBC reported July 11. “A 200% tariff would inflate production costs, compress profit margins, and risk supply chain disruptions, leading to drug shortages and higher prices for U.S. consumers,” Barclays wrote to the news outlet. UBS said a 12-18 month grace period is insufficient time to move manufacturing to the U.S.