Mexican President Claudia Sheinbaum on Tuesday said Mexico will take action if an agreement with Washington regarding new tariffs is not reached by the August 1 deadline set by her U.S. counterpart Donald Trump.

The impact on effective tariff rates is expected to be moderate. BofA estimates these could rise to 4.2% for Canada and 6.9% for Mexico, up from 3.6% and 6.2%, respectively, due to the high share of USMCA-compliant goods in total trade flows.

The United States will start charging 30% tariffs on August 1 on products coming into the country from the European Union, President Donald Trump confirmed Saturday.

With new tariffs on tomatoes from Mexico falling during Maryland’s tomato season, farmers are hopeful that more people will make the switch to local produce.

The U.S. Department of Commerce on Monday imposed an immediate 17.09% tariff on tomatoes imported into this country from Mexico. Most of the tomatoes sold in Arizona come from Mexico.

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. Trump on Thursday announced a 35% tariff on Canadian goods.

President Donald Trump said he will impose a 30% tariff on Mexico due to his accusations of fentanyl coming across the border. The EU will also face a new tariff.

Over the past 30 years, Florida tomato growers’ share of the U.S. tomato market has shrunk from 80% to 20%, as Mexico-grown tomatoes become more common on shelves, Arizona State University professor Tim Richards said. Richards predicts the price of tomatoes will increase by about 8.5%, half the amount of the 17% tariff.