Overview
- President Trump signed non-negotiable letters on Monday to 12 trading partners, outlining tariffs ranging from 10–20% up to 60–70% as a take-it-or-leave-it offer.
- US officials warned they could impose 17% duties on EU agricultural exports if no principle agreement is reached by July 9.
- Brussels proposed accepting a flat 10% US tariff in exchange for exemptions in strategic sectors such as autos, aluminum and pharmaceuticals.
- Failure to meet the deadline would trigger immediate EU retaliation on €95 billion of American goods, with duties potentially at 50%.
- China’s new antidumping tariffs of 27.7–34.9% on EU brandy and grappa add fresh strain on European exporters ahead of the transatlantic talks.