American consumers could see a price hike and some restaurant owners may face shutting down, as a nearly three-decade-old US-Mexico trade agreement may give way to 20.9% tariffs on most Mexican tomato imports on July 14.

The Mexican delegation in Washington expressed disagreement with the tariff announcement and considered it “unfair treatment,” according to a government statement.

Investors should ignore the daily back and forth on tariffs and focus instead on a handful of developments on the horizon.

The announcement comes as Trump has pushed through his tariff agenda by unveiling a new batch of letters to over 20 trade partners outlining tariffs on goods imported from their c

President Trump announced in letters posted to social media on Saturday that he would place a 30 percent tariff on goods from the European Union and Mexico, upending months of careful negotiations and disrupting America’s economic relationships with two of its biggest trading partners.