'Bizarre nonsense': Trump threatens EU, Mexico with 30 percent tariffs

US President Donald Trump on Saturday announced tariffs of 30 percent against Mexico and the EU starting August 1, sparking yet another wave of panic among its trade partners. Given the short deadline to come up with a deal, Economist John Ashcroft from The Saturday Economist labelled Trump’s latest move as “bizarre nonsense” which is leading to a “chaotic assessment of border policy and the impact on world economy”.