Trump Says There Is Only a 50 Percent Chance of a US-EU Deal

According to a report by Jinse Finance, 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 percent." Trump said, "I think the chances of reaching an agreement are fifty-fifty, maybe even less, but there is still a fifty percent possibility." He added that US and EU negotiators are working "closely" together in an effort to reach a deal. Earlier this month, Trump issued a letter warning that if the US and EU fail to reach an agreement by August 1, the EU will face punitive measures including a 30% tariff on most goods, as well as additional industry-specific tariffs. Trump also stated that in the coming days, he will unilaterally issue more letters to set a new round of tariffs for other countries.