Overview

• President Trump finalized roughly a dozen country-specific tariff-notification letters for dispatch on Monday, detailing duty rates between 10% and 70%.
• The 90-day suspension on US tariff increases lapses July 9, risking a jump from 10% to as high as 20% on most imports and 17% on EU agricultural goods unless deals are struck.
• EU Trade Commissioner Maroš Šefčovič met with US Trade Representative Jamieson Greer, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, but six EU diplomats describe the outcome as gloomy and no breakthrough is in sight.
• Brussels is considering a rudimentary agreement that would lock in a 10% baseline tariff on most imports while postponing sector-specific relief talks until after July 9.
• German automakers including BMW, Mercedes-Benz and Volkswagen held confidential discussions with US officials to push for exemptions as both sides prepare for retaliatory measures and supply-chain risks.