President Donald Trump said he will impose a 30% tariff on Mexico due to his accusations of fentanyl coming across the border. The EU will also face a new tariff.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

BRIDGEWATER, N.J. (AP) — President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.

US President Donald Trump on Wednesday hinted at reaching a new trade deal with India soon. While adding "maybe", he said that currently the US is in negotiations with India.

EU trade commissioner Maroš Šefčovič Maroš Šefčovič stated that the introduction of 30% tariffs on European imports would actually destroy transatlantic trade, The Guardian reports. The European Union is warning of the risk of a complete freeze in trade with the United States due to a new initiative by Donald Trump.

President Donald Trump has pledged a 50% tariff against Brazil, a major producer of green coffee beans. That could lead to higher coffee prices.