Are the EU’s new tariffs in the United States on August 1st? As of today, several trading partners receive corresponding letters. It is puzzled whether the EU is among them.
Shortly before the end of the negotiation period on July 9, the United States informed a number of countries about new tariffs or possible trade agreements. According to US President Trump, 12 to 15 countries should receive corresponding letters by Wednesday. In the case of new tariffs, these should then come into force on August 1st, added Minister of Commerce Howard Lutnick in a joint statement that, among other things, spread the US broadcaster Fox News.
Whether the European Union is also affected by the new period remained unclear. EU Commission President Ursula von der Leyen spoke to US President Donald Trump on Sunday. It was a good exchange. The EU and the United States have recently made good progress in order to be able to create a basic agreement, the Commission said. The aim is to make an agreement until July 9th.
Post shipment from 12 p.m. local time
According to Trump, shipping begins at 12 p.m. (local time, 6 p.m. CEST). “I think we will have worked out most of the countries by July 9th.” A few deals were also completed, said Trump about the content of his writing.
US Finance Minister Scott Bessent said in the CNN broadcaster that he quickly expected many deals due to the letters. He also spoke of around 100 letters to small countries with which the United States does not trade a lot. “The countries receive a letter that says: If we have not reached an agreement, you fall back to the level of April 2.” That day Trump announced his far -reaching customs package.
In April, Trump introduced a base customover of ten percent to almost all imports from the EU. In addition, special tariffs apply to certain products, such as steel and aluminum and auto imports. With his customs policy, Trump also wants to reduce the chronic trade deficit of the United States.
Trump threatens BRICS countries
In conflict with the BRICS group of states, Trump threatens other tariffs. “Every country that joins the anti-American policy of BRICS is burdened with an additional 10 percent customs set,” he announced on his online language tube Truth Social. The BRICS countries, which also include Russia, criticized the increase in one-sided tariffs in trade policy in Rio de Janeiro on Sunday.
The abbreviation of Brics stands for the first five members of the group of states: Brazil, Russia, India, China and South Africa. In early 2024 Iran, Egypt, Ethiopia and the United Arab Emirates were added. Trump had already threatened the countries of the alliance with tariffs of 100 percent at the beginning of the year if they turned away from the US dollar as an international means of payment.
Agree with China in June
On June 11, according to Trump, the USA had reached an agreement with China about the delivery of less frequent earths and customs measures. According to his information on the social network Truth Social, both countries agreed on reducing export restrictions on rare earths.
Trump also wrote that there was an agreement in the customs dispute between the world’s two largest economies. The United States would raise customs duties of 55 percent on Chinese goods, conversely, China determines a ten percent dial on US goods. The agreement was signed at the end of June.
“Deals” with Vietnam and Great Britain
On July 2, the USA had concluded a trade agreement with Vietnam, according to Trump. Vietnam should therefore pay a custom of 20 percent to all imports to the United States. For freight, which is reloaded and transported in the United States, a percentage of twice as high is estimated. In addition, the Southeast Asian country wants to grant the USA “complete access” to its market – something that, according to Trump, “has never made it before”. “We will be able to sell our products in Vietnam to the zero customs set,” he wrote.
Vietnam would be one of the first countries with which the United States can agree on a deal. The United States had previously agreed on a trade compromise with Great Britain. The deal comes just a few days before the end of an important period: by July 9, Trump had exposed his tariffs of 46 percent to Vietnamese imports. Negotiations are also underway with other countries and the European Union.
