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%.

President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.

The Mexican delegation in Washington expressed disagreement with the tariff announcement and considered it “unfair treatment,” according to a government statement.

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.

President Donald Trump said in a letter to Mexico he would put a 30% tariff on Mexican goods if Mexican President Claudia Sheinbaum doesn’t do more to comply with U.S. security goals.

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