Trump Rates EU Trade Deal Chances at 50% Amid Threats of New Tariffs

On July 25, former President Trump expressed a measured outlook on the prospects of a US-EU trade agreement aimed at reducing import tariffs, estimating the likelihood at approximately 50%. Despite recent positive signals from European Union diplomats, Trump emphasized the uncertainty surrounding the negotiations, noting that while efforts are ongoing, the outcome remains uncertain. Earlier in July, Trump issued a formal warning that absent an agreement by August 1, the EU could face punitive tariffs of 30% on a broad range of goods, alongside additional levies targeting specific industries. Furthermore, Trump announced plans to unilaterally dispatch nearly 200 tariff notifications to various countries, outlining new tariff rates, some set at 10% or 15%, signaling a potential recalibration of US trade policy. These developments underscore the complex dynamics in transatlantic trade relations and the strategic use of tariffs as leverage in negotiations.