<h1>US President announces 30% tariffs on EU and Mexico effective August 1 amid trade tensions</h1> The US President announced surprise 30% tariffs on the European Union and Mexico, effective August 1, following previous tariffs imposed in April with a 90-day negotiation period. European trade ministers met in Brussels expressing unity and readiness for proportionate countermeasures while remaining hopeful for negotiated solutions. The EU suspended its planned retaliatory tariffs to allow negotiations until August 1. The tariffs could affect various goods from cheese to electronics, potentially destabilizing economies. The EU is simultaneously pursuing new trade partnerships with Indonesia, Asian nations, and other regions to diversify economic relationships amid ongoing trade tensions.