Overview

• Trump posted letters on Truth Social to Ursula von der Leyen and Claudia Sheinbaum warning of 30% duties on goods from the EU and Mexico starting August 1, prompting Mexico to insist on defending its sovereignty while seeking a deal
• He delivered similar tariff threat letters to 23 other trading partners, including Canada, Japan and Brazil, proposing blanket levies of 20% to 50% to extract concessions
• The EU delayed planned retaliatory duties on US steel and aluminum until August 1 to preserve diplomatic space and avoid a fresh escalation
• Brussels has prepared countermeasures targeting about €21 billion of US goods, with a second package of roughly €72 billion ready and the option to invoke its Anti‐Coercion Instrument
• German Chancellor Friedrich Merz warned that 30% levies would hit German exports “to the core” and urged a united EU strategy and direct engagement with President Trump