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.

In a letter to Mexico’s president, Claudia Sheinbaum, Mr. Trump said that Mexico was not doing enough to curb the flow of fentanyl into the United States and cited that as the reason for the tariffs. Mr. Trump added that Mexican companies were welcome to manufacture their products in the United States to avoid the tariffs.

President Donald Trump on Saturday threatened 30 percent tariffs on two major U.S. trading partners — the European Union and Mexico. In letters posted to Truth Social, the president said each country would face the new tariffs starting Aug.