The president posted letters to his EU and Mexican counterparts on his Truth Social account on Saturday morning.

Fox News correspondent Alexandria Hoff joins ‘Fox Report’ to explain President Donald Trump’s latest tariff announcement targeting Mexico and the European Union.

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% higher than what the president said he would apply to America's largest trading partner in April.

Scavino and two other top officials sold Trump Media stock with a combined value of up to $10 million before tariffs news

The dollar rose and Commerzbank said since Trump is announcing the tariffs in increments, the market seemed to be coping better than it did in April—when steep levies were unveiled at once.

Gold rose on Friday after U.S. President Donald Trump announced new tariffs on Canadian imports and broader tariff threats to other trading partners, but gains were capped by a stronger dollar amid mounting signs of turmoil in global trade landscape.

The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.