President Trump has threatened to increase Mexico’s tariff rate to 30 percent starting Aug. 1, claiming the country hasn’t sufficiently tackled drug cartels.

A vast majority of trade between Mexico and the U.S. has been exempt from tariffs for months. That could change on Monday.

President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.

The tariffs are likely to inflame tensions with one of the largest U.S. trading partners.

Detroit Axle said Trump's new tariff policy is forcing it to shut a facility and cut jobs. Experts look for more companies to do the same.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

With talks at a standstill, a new U.S. tariff threat raises economic tensions as Canada faces a potential 35% penalty outside key trade protections.

Trump detailed the planned tariffs in letters posted to his social media account. They are part of an announcement blitz by Trump of new tariffs aimed at allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a U.S. economy that he claims has been ripped off by other nations for decades.