Overview

• The letters, set to cover all partner countries by the cutoff, outline differentiated tariffs ranging from 10% to 70% based on each nation’s trade surplus with the U.S.
• Countries that do not secure agreements by July 9 will face punitive duties on their exports starting August 1.
• The Trump administration has already reached trade accords with the United Kingdom and Vietnam and maintains a temporary tariff pause with China.
• EU negotiators are in a final weekend push for a deal with Washington to prevent surcharges on European imports.
• French Economy Minister Éric Lombard cautioned that Europe would adopt stronger countermeasures if negotiations with the U.S. fail.