Donald Trump reveals new tariffs for Mexico and Europe

U.S. President Donald Trump has announced a 30 percent tariff on goods from Mexico and the Euopean Union, citing trade deficits and national security.

“If for any reason you decide to raise your Tariffs and retaliate, then, whatever the number you choose to raise them by will be added onto the 30% that we charge,” he warned in letters posted to Truth Social shortly before 9 a.m. ET on Saturday.

This is a breaking news story. Updates to follow.