Overview

• President Trump notified over 150 nations that they face new 10–15% import duties starting August 1 if they do not secure bilateral agreements.
• He warned European Union members that a refusal to strike a deal by August 8 will trigger 30% duties on EU goods and services.
• The European Commission postponed its planned €21 billion retaliation until August 6 after extending an earlier July deadline.
• EU capitals are divided over an additional proposed €72 billion list of countermeasures against U.S. tariffs.
• Italy has threatened to impose its own $27 billion in sanctions immediately if Washington proceeds with its latest tariff threats.