Overview

• A French Customs study shows about 2,000 companies, responsible for half of France’s €48.6 billion in US exports in 2024, depend on American sales for at least 10 percent of their turnover and would absorb half of any additional duties.
• Negotiators are working to cap US tariffs on European goods at 15 percent, down from a threatened 30 percent increase, with planned exemptions for sectors such as aerospace and pharmaceuticals.
• President Trump has given talks a “50-50” chance of success and warned that failure to reach an agreement by August 1 would trigger 30 percent duties on all European imports.
• Ursula von der Leyen and Donald Trump will hold a high-level meeting in Scotland on July 27 as the final effort to avert sweeping tariff hikes set to begin August 1.
• The European Commission has drawn up counter-tariffs on €93 billion of US goods and stands ready to deploy its anti-coercion instrument if the US raises duties as threatened.