Though the Trump administration and European Union have agreed to a deal that reduces planned U.S. tariffs, Mexico still faces 30% levies on goods imported into the U.S. If tariffs do take effect on Aug. 1, experts say prices for everything from produce to cars and trucks could soon be on the rise for U.S. importers and consumers.

US President Donald Trump has announced that all imports from the EU and Mexico will have a 30% tariff as of August 1. He sent letters to EU President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum informing them of the new rates, which were also posted on his Truth Social account on Saturday.

The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.

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

A vast majority of trade between Mexico and the U.S. has been exempt from tariffs for months. That could change on Monday.

In his letter to Mexico's leader, President Claudia Sheinbaum, Trump acknowledged that the country ... and we’re left out,” Holtz-Eakin said. If the tariffs do indeed take effect, the potential impact on Europe could be vast. The value of EU-U.S ...