����vlog

President Donald Trump announced new tariffs on imports from the European Union and Mexico starting Aug. 1. In separate letters, Trump warned of a 30% tax on exports to the U.S. Meanwhile, a separate policy starting Monday ends a long-standing agreement between the U.S. and Mexico, imposing a nearly 21% tax on imported tomatoes. While economists predict the tariffs will lead to higher prices, Trump argues they will enrich the U.S., balance trade deficits, and enhance national security. "Some of these deals, maybe I'll change them and maybe I won't, but our country is making a lot of money," Trump said to reporters Sunday evening. "The president thinks that the deals need to be better, and to basically put a line in the sand, he sent these letters out to folks," White House National Economic Council Director Kevin Hassett said.But the U.S. imports more from the EU than any other country, and tariffs on all 27 member nations could increase prices on goods such as French cheese, Italian leather, German electronics, Spanish pharmaceuticals, medicine, and vehicles. Negotiations are ongoing, but the EU has stated it will retaliate if the tariffs are implemented, potentially also affecting U.S. exports like crude oil, pharmaceuticals, aircraft, automobiles, and medical equipment.Mexico, the second-largest exporter and importer of U.S. goods, has called the new tariffs unfair. The most traded items between the two include vehicles, electrical machinery, and medical devices. Agriculture accounts for about 10% of U.S. imports from Mexico, including vegetables, fruit, beer, and liquor. In his letter, Trump cited the need for Mexico to do more to stop the flow of migrants and fentanyl to the U.S. as part of the reason for the new tariffs.A separate policy kicking in Monday increases tomato import taxes to nearly 21%. The administration argues that ending a decades-old trade agreement on tomatoes will drive prices down, but opponents disagree. Mexico supplies about 70% of the U.S. tomato market with approximately 4 billion pounds of tomatoes each year. Advocates believe the tax will encourage domestic tomato growing, while the Trump administration claims Mexican farmers have sold tomatoes for less than their production cost to boost sales. In response, Mexico has threatened to tax American pork and chicken. Watch the latest coverage on tariffs: