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EU Seeks Trade Deal with Trump, Others Face New Tariff Notices

UNITED STATES, JUL 9 – U.S. tariffs remain high despite nearing trade deal with the EU, with tariff revenues expected to reach $300 billion this year, officials said.

  • On Wednesday, Trump issued final tariff notices to seven partners as EU negotiations aim for a July 9 deal, with tariffs starting August 1.
  • The Trump administration needs tariff revenues to close the budget gap, making European tariffs crucial for achieving fiscal goals.
  • Yale Budget Lab found the effective U.S. tariff rate increased to 17.6%, the highest in nine decades, with a 50% levy on imported copper and upcoming duties on semiconductors and pharmaceuticals.
  • The European Parliament's trade committee head states the EU struggles to secure immediate tariff relief and no-new-measures pledge, risking increased production shifts to the U.S.
  • Both sides aim to finalize a trade deal by July 21, with high tariffs on steel, autos, and general goods still looming if no agreement is reached.
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Sueddeutsche Zeitung broke the news in Munich, Germany on Wednesday, July 9, 2025.
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