Catenaa, Wednesday, July 09, 2025- The European Union (EU) said it was working on sealing a trade deal with the US by the end of the month, as Trump seeks to deliver further tariff notices on unnamed countries on Wednesday.
Trump broadened out a trade war that has cast a shadow over the global economic outlook when he said on Tuesday he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals.
Trump said late on Tuesday in Truth Social that “a minimum of seven” tariff notices would be released on Wednesday morning, and more in the afternoon.
The threat came a day after he pressured 14 trading partners, including powerhouse US suppliers South Korea and Japan, with tariff letters imposing levies of 25% and upwards to take effect from August 1.
Trump said trade talks have been going well with China and the European Union, which is the biggest bilateral trading partner of the US.
Trump said he would “probably” tell the EU within two days what rate it could expect for its exports to the US, adding that the 27-nation EU had become much more cooperative.
“They treated us very badly until recently, and now they’re treating us very nicely. It’s like a different world, actually,” he said.
“We stick to our principles, we defend our interests, we continue to work in good faith, and we get ready for all scenarios,” European Commission President Ursula von der Leyen told the European Parliament.
A European Commission spokesperson said that the EU aimed to reach a trade deal before August 1, potentially even in the coming days.
Trump’s administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could collect $300 billion by the end of the year. The US has taken in about $80 billion annually in tariff revenue in recent years.
