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The tariffs are likely to inflame tensions with one of the largest U.S. trading partners.
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 U.S. President Donald Trump on Saturday announced he's levying tariffs of 30 per cent against the European Union and Mexico starting on Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trading partners.
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Manufacturers and importers are storing more product in foreign trade zones and bonded warehouses to avoid Trump's tariffs and preserve cash.
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President Trump has told more than two dozen countries that they will face tariffs of at least 20 percent on Aug. 1 if they don't reach agreements by then.
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