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US Sends Tariff Ultimatums as EU Eyes 10% Deal Before July 9 Deadline

Negotiators have extended talks through the weekend to reconcile sectoral exemptions in a bid to finalize an agreement before duties resume.

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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.