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.

President Trump announcing new tariffs of 30% on Mexico and the European Union to start on August 1. European trade ministers are meeting today after pausing their retaliatory tariffs that were supposed to start today.

The U.S. just ended a decades-old tomato trade agreement with Mexico, and while prices could soon spike at grocery stores and restaurants across the country, one Stanislaus County farmer says not so fast.

Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.

In the wake of new tariffs, the San Diego Regional Chamber of Commerce announced Monday that its senior leadership met with U.S. Ambassador to Mexico Ronald Johnson and emphasized the importance of a stable trade relationship between Mexico and the United States.

The U.S. government said Monday it is placing a 17% duty on most fresh Mexican tomatoes, after negotiations over alleged unfair trade practices ended without an agreement to avert the tariff.

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

President Donald Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda.