Overview

• The United States began issuing formal letters on July 7 to notify trading partners of looming tariffs or outline bilateral deal terms.
• Officials said any country without a deal by August 1—including the EU and Taiwan—will be subject to scheduled tariff hikes.
• President Trump pledged an additional 10% tariff on nations aligning with anti-American BRICS policies with no exceptions.
• The European Union has intensified technical and political talks and hopes to secure a tariff agreement in the coming days.
• Mexico’s interagency team departs this week for Washington to negotiate a global deal covering trade, security and migration, while Canada will adjust its retaliatory steel and aluminum levies on July 21 if no bilateral deal is secured.