The US is set to impose a 30% tariff on all goods from the European Union from August 1, 2025.

US President Donald Trump announced his Truth Social platform, with the EU having readied itself to see what the tariff rate would be.

The 27-member bloc and the US failed to reach an agreement to strike a comprehensive trade deal, including zero-for-zero tariffs on industrial goods. 

In addition to the tariffs on EU goods, Trump posted another letter to his platform, declaring a 30% tariff rate on goods from Mexico beginning August 1 as well.

Follow our live blog for the latest EU reactions to Trump's announcement.

The US president said the trade relationship with the EU has been "unfortunately, far from Reciprocal," as such "we will charge the European Union a Tariff of only 30%."

Trump has frequently described tariffs as charges on other countries, but in reality, the charge is usually paid by the consumer within the US. Tariffs make imported goods more expensive and thus less competitive.

"Please understand that the 30% number is far less than what is needed to eliminate the Trade Deficit disparity we have with the EU," he added, referring to the difference in goods imported from the EU and goods exported to the EU.

Trump invited the EU to negotiate further, writing in his letter to European Commission President Ursula von der Leyen that high tariff rates would be dropped if "the European Union, or countries within the EU, decide to build or manufacture within the United States."

Trump has spent the week sending letters to trading partners, announcing new rates for a number of countries like Japan, South Korea, Canada and Brazil.

Trump imposed a 20% import tax on all EU-made products in early April as part of a set of tariffs targeting countries with which the US has a trade imbalance.

But hours after the nation-specific duties took effect, Trump put them on hold until July 9 at a standard rate of 10% to quiet financial markets and allow time for negotiations.

But the president expressed frustration at talks with the EU, even saying in May that he would impose a tariff rate of 50% on EU goods into the US.

That would cause a price hike for everything from Italian leather goods to French cheese to German electronics in the US.

Then Trump announced that universal tariffs that were due to kick in July 9 would be delayed until at least the beginning of August.

The EU currently faces 50% US tariffs on its steel and aluminium exports, 25% on cars and car parts and 10% on most other products.

Top officials in Brussels have said the bloc would impose countermeasures if no deal can be made with the US.

European officials have hinted at tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes.

Some others have also suggested that high tariff rates were part of Trump's plan to force countries to offer the US a better deal.

Edited by: Alex Berry