Mexico currently supplies around 70% of the U.S. tomato market, up from 30% two decades ago, according to the Florida Tomato Exchange.

While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10 percentage points higher than what the president said he would apply to America's largest trading partner in April but lower than his mid-May threat of 50%.

President Trump announcing new tariffs of 30% on Mexico and the European Union to start on August 1. European trade ministers are meeting today after pausing their retaliatory tariffs that were supposed to start today.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq each retreated by about 0.3% early Monday.

Betting on Mexico’s currency has paid off for investors even amid Donald Trump’s trade war. The peso is up more than 11% this year, beating all regional peers, even as it dipped Monday following the latest tariff news — a threat of a 30% levy announced over the weekend.