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.

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.

South Africa urged G20 countries to show global and cooperative leadership to tackle challenges including rising trade barriers, as the club's finance chiefs met on Thursday under the shadow of President Donald Trump's tariff threats.

Greece is biggest exporter of tinned peaches, 20% go to US

On August 1, a significant shift in international trade is expected as President Donald Trump enacts a 30% tariff on imports from the European Union and Mexico, two of the U.S.'s largest trading partners.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

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.

Volvo is planning to begin U.S. production of the XC60 and XC90 crossovers as a response to the Trump administration's auto tariffs, according to an Automotive News report. The outlet cites two anonymous sources who say Volvo will begin U.

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