Trump: Only a 50 Percent Chance of a US-EU Deal, Will Set New Tariffs for Other Countries

According to ChainCatcher, citing Jintou News, despite recent optimism among EU diplomats about an imminent trade agreement, Trump stated that the likelihood of the US and EU reaching a deal to lower import tariffs is “only fifty-fifty.”

Trump said, “I think the chances of reaching an agreement are fifty-fifty, maybe even less, but there’s still a fifty percent possibility. US and EU negotiators are working closely together to try to reach a deal.” Earlier this month, Trump issued a letter stating that if the US and EU fail to reach an agreement by August 1, the EU will face punitive measures imposing a 30% tariff on most goods, in addition to industry-specific supplementary tariffs.

Trump also said today that in the coming days, he will unilaterally issue nearly 200 tariff letters, setting a new round of tariffs for other countries, with some letters specifying tariff rates of 10% or 15%.