Trump says he will hit E.U. and Mexico with 30% tariff

President Donald Trump on Saturday threatened a significant tariff hike on the European Union and Mexico, two of the largest U.S. trade partners

President Donald Trump on Saturday threatened a significant tariff hike on the European Union and Mexico, two of the largest U.S. trade partners.

In separate letters published on his social media platform, Truth Social, Trump wrote that each country will face a blanket tariff rate of 30% on all goods exported to the U.S. starting Aug. 1.

Trump threatened even higher tariffs if either the E.U. or Mexico retaliate against his new levy.

Writing to Mexico's president, Trump also focused on border security, saying that "Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough."

"Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground," he added.