US President Donald Trump has announced that all imports from the EU and Mexico will have a 30% tariff as of August 1. He sent letters to EU President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum informing them of the new rates, which were also posted on his Truth Social account on Saturday.

Vietnam, whose exports to the U.S. reportedly comprised 30% of its gross domestic product last year, is especially vulnerable to Trump’s tariffs.

Trump, meanwhile, said he was open to further discussions with the EU and other trading partners before new 30% tariffs kick in next month and that EU officials would be coming to the United States for negotiations.