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U.S. President Donald Trump has announced plans to impose a 30 percent tariff on goods from the European Union and Mexico, two of the U.S.'s largest trading partners.

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00:00U.S. President Donald Trump has announced plans to impose a 30 percent tariff on goods
00:05from the European Union and Mexico, two of the U.S.' largest trading partners.
00:10The tariffs will come into effect on August 1 if deals aren't struck before then.
00:15Both the EU and Mexico are already in trade negotiations with the U.S.
00:19In response to the announced tariffs, the European Commission president said the levies
00:23would disrupt transatlantic supply chains, hurting both businesses and consumers, while
00:28Mexico's president seemed hopeful for a better deal.
00:47The news comes after Trump also announced new tariffs on many of its other trading partners
00:51this week, including Canada and Japan.

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