Overview

• The EU has suspended its planned counter-tariffs for six months while a Joint Statement from the July 27 agreement awaits legal finalization.
• Under that accord, the bloc committed to investing $600 billion in U.S. industries and purchasing $750 billion of American energy.
• Trump warned on CNBC that he will impose 35 percent duties on EU goods if those investment and energy targets are not met.
• He further threatened pharmaceutical tariffs rising to 150 percent within 18 months and 250 percent thereafter to spur domestic drug manufacturing.
• Simultaneously, Japan pledged a $550 billion investment signing bonus and Trump confirmed he will meet Xi Jinping if a U.S.-China trade deal materializes.