Trump Patience on Tariffs Runs Thin as Nations Jostle for Deals
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Diverging Reports Breakdown
Trump announces tariffs of 30% on Mexico and the European Union
President Donald Trump threatened duties of 30% on products from Mexico and the European Union. Trump has imposed a slate of tariffs on US trading partners this year – then paused, modified, raised or lowered them. The EU and Mexico join a growing list of countries whose imports will face updated duties on August 1, since Trump began posting tariff letters on Monday with rates of up to 40%.Products from Mexico, meanwhile, have mostly been able to enter the country duty-free, granted they were compliant with the United States-Mexico-Canada Agreement (USMCA) Trump negotiated in his first term.
President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.
“The United States of America has agreed to continue working with the European Union, despite having one of our largest Trade Deficits with you. Nevertheless, we have decided to move forward, but only with more balanced and fair TRADE,” Trump wrote in the letter to Ursula von der Leyen, president of the European Commission, which he posted to Truth Social.
Trump has imposed a slate of tariffs on US trading partners this year – then paused, modified, raised or lowered them, in a chaotic barrage of policy actions that’s left everyone from major nations to individual Americans trying to figure out how to plan for the future even as economic uncertainty grows.
The EU and Mexico join a growing list of countries whose imports will face updated duties on August 1, since Trump began posting tariff letters on Monday with rates of up to 40%.
In his letters to the EU and Mexico, Trump said that all imports were subject to the 30% tariff, excluding “Sectoral Tariffs,” such as the 25% auto tariff.
Von der Leyen said in a statement that the EU remains “ready to continue working towards an agreement” by the August 1 deadline.
But, she said, a 30% tariff on EU exports would hurt supply chains, businesses and consumers on both sides of the Atlantic. The EU “will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required,” von der Leyen wrote.
French President Emmanuel Macron agreed on X that the European Commission must “resolutely defend European interests.”
“In particular, this implies speeding up the preparation of credible countermeasures, by mobilising all the instruments at its disposal, including anti-coercion, if no agreement is reached by August 1st,” he wrote in his post.
Macron and von der Leyen’s sentiments were echoed by other European Union officials in the strongest public pushback to the Trump administration’s political pressure and trade whiplash that ensued in May.
Products from Mexico, meanwhile, have mostly been able to enter the country duty-free, granted they were compliant with the United States-Mexico-Canada Agreement (USMCA) Trump negotiated in his first term. In his letter addressed to Mexican President Claudia Sheinbaum, Trump said that tariff barriers were imposed to stop the flow of fentanyl into the United States, which he has previously used to justify earlier tariffs on Mexico as well.
VYNE Therapeutics Inc. (VYNE) Gets Buy Reaffirmation on Pipeline Progress
Analysts at H.C. Wainwright have reaffirmed their Buy rating on VYNE Therapeutics Inc. (NASDAQ:VYNE), with a price target of $4.50. This follows the company’s advancement of its VYN202 program for moderate-to-severe plaque psoriasis. The company’s Phase 1b trial was put on hold by the FDA due to testicular toxicity outcomes in dogs during non-clinical studies. The study has been permitted to proceed in female patients at the 0.25 mg and 0.5 mg dosing levels.
Just recently, the company’s Phase 1b trial was put on hold by the FDA due to testicular toxicity outcomes in dogs during non-clinical studies. The study, however, has been permitted to proceed in female patients at the 0.25 mg and 0.5 mg dosing levels. Since a higher 1 mg dose was excluded because of its narrower safety margin, VYNE Therapeutics Inc. (NASDAQ:VYNE) must first complete a 12-week non-clinical toxicology study in dogs before resuming male enrollment.
A close-up shot of a male patient in a clinical trial, receiving the latest therapeutic treatment with a BET inhibitor.
What provides the company financial stability at this crucial development stage is its high current ratio and low debt. After the study’s status update, VYNE Therapeutics Inc. (NASDAQ:VYNE) unblinded data from the enrolled participants, showing no serious side effects and no treatment discontinuations associated with the adverse cases.
VYNE Therapeutics Inc. (NASDAQ:VYNE), based in New Jersey, is a clinical-stage biopharmaceutical company that engages in the development of therapies to address chronic inflammatory and immune-mediated conditions. Founded in 2020, the company is committed to improving the immune system and inflammation.
While we acknowledge the potential of VYNE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.