Overview

• On July 4 aboard Air Force One, Trump said he had signed about a dozen letters that will be mailed starting Monday to inform each partner of specific tariff rates
• Most of the new levies are scheduled to take effect on August 1 if no agreement is reached by the July 9 moratorium expiration
• EU Trade Commissioner Maroš Šefčovič and Commission President Ursula von der Leyen have shifted focus toward a basic framework deal as a comprehensive pact proved unfeasible within 90 days
• German Chancellor Friedrich Merz urged swift simplified agreements to shield key industries from looming tariffs, and some EU diplomats are exploring a pause extension to delay duty hikes
• German automakers Mercedes-Benz, BMW and Volkswagen held confidential talks in Washington proposing sector-specific adjustments that EU officials warn could undermine the bloc’s negotiating position