Overview

• President Trump notified the EU on July 12 that 30% tariffs on European goods will take effect August 1 without a new agreement.
• The European Commission has escalated its potential retaliation from €21 billion to a proposed €72 billion package in response to the threat.
• EU negotiators face a fifteen-day deadline to strike a deal with Washington or face mutual trade disruption and widespread job losses.
• Industries from wine to aerospace stand at risk as tariffs could trigger supply-chain disruptions and price hikes across key European markets.
• Thierry Breton urged Ursula von der Leyen to take direct control of negotiations to strengthen Europe’s political leverage.