The euro fell to a three-week low on Monday while the Mexican peso also came under pressure after President Donald Trump threatened to impose a 30% tariff on imports from two of the largest U.S. trading partners beginning August 1.

BRUSSELS (Reuters) -The EU will extend its suspension of countermeasures to U.S. tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.

If a 30 percent tariff on Mexico goes into affect on August 1, a wide variety of foods will be more expensive, experts warn.

BRUSSELS, July 13 (Reuters) - The EU will extend its suspension of countermeasures to U.S. tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.

European Commission President Ursula von der Leyen comments on President Donald Trump’s new tariffs of 30% on goods from the EU and Mexico starting Aug. 1.

The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.