Core Viewpoint - The White House trade advisor Navarro highlights that non-tariff barriers pose a significant challenge for the European Union [1] Group 1 - Non-tariff barriers are identified as a major obstacle for the EU in the current trade landscape [1]

Group 1 - The South Korean government is considering making "strategic concessions" on certain agricultural import restrictions in negotiations with the U.S. to secure a broader trade agreement [1][2] - The U.S. is pressuring South Korea to expand imports of American energy and agricultural products while removing non-tariff barriers that hinder U.S. exports [1] - Specific U.S. demands include relaxing import restrictions on U.S. beef over 30 months old, expanding rice import quotas, allowing genetically modified potatoes, and easing quarantine procedures for fruits like apples and blueberries [1][2] Group 2 - Domestic reactions in South Korea include strong opposition from farmers' groups, who feel that the government is sacrificing the agricultural sector [2] - Local councils in South Korea have passed resolutions opposing the government's consideration of easing restrictions on U.S. apples, highlighting the ongoing tension in agricultural negotiations [2] - The long-standing debate over agricultural imports has seen the U.S. criticize South Korea for maintaining market access and quarantine restrictions, which are viewed as non-tariff barriers [2] Group 3 - The implementation of the Korea-U.S. Free Trade Agreement (FTA) has primarily benefited large export enterprises, leaving informal workers, small farmers, and local industries at a disadvantage [3] - The current government is urged to not only negotiate favorable terms but also to plan for the impacts on vulnerable groups post-negotiation to ensure fair and sustainable trade policies [3]

Group 1 - The negotiations between Indonesia and the United States cover tariffs, non-tariff barriers, digital economy, and business partnerships [1]

Group 1 - The article discusses the potential short-term and non-binding nature of any preliminary trade agreement between the US and EU, with a focus on tariffs imposed by the US on imports from 14 countries starting August 1 [1][4] - The EU is negotiating to maintain a 10% baseline tariff while seeking exemptions for sensitive industries like aircraft and spirits, and discussions are ongoing regarding a 25% reduction in auto tariffs [1][5] - There is a significant divergence within the EU regarding the acceptance of agreement terms, with Germany advocating for a deal while France emphasizes a strong stance against high tariffs [5][6] Group 2 - The economic impact of US-EU trade negotiations is expected to vary, with a baseline scenario suggesting a potential agreement later this year that could exert short-term pressure on European economic growth and corporate profits [2] - Recent data indicates a decline in Germany's exports, particularly to the US, with a 7.7% drop in May, marking the lowest level in three years, which may signal challenges for European exports in the coming months [7][8] - The possibility of a breakdown in negotiations could lead to higher tariffs and economic recession for Europe, although there remains optimism for a compromise that could benefit both parties, particularly in defense spending and energy procurement [8]

Group 1 - The EU is seeking to finalize a preliminary trade agreement with the US by July 9, aiming for a 10% tariff rate and laying the groundwork for a permanent agreement [1][3] - EU Commission President Ursula von der Leyen had a positive discussion with President Trump, increasing hopes for an agreement before the deadline [1][3] - The EU may make limited concessions on tariffs for aircraft, medical devices, and spirits, while still pursuing exemptions for key products [1][3] Group 2 - The EU is pushing for the US to provide quotas and exemptions to reduce the 25% tariffs on cars and parts, as well as the 50% tariffs on steel and aluminum, although these terms may not be included in the upcoming agreement [1][3] - There are internal divisions within the EU regarding whether to accept an "asymmetrical" agreement, with some members advocating for a quick deal to avoid uncertainty, while others prefer to enhance their negotiating position [3][4] Group 3 - The US has postponed the implementation of "reciprocal tariffs" until August 1, which could lead to a significant increase in tariffs on nearly all EU exports if no agreement is reached [4] - The EU has already approved tariffs on $21 billion worth of US goods in response to US metal tariffs and is preparing additional tariffs on $95 billion worth of US products [4][5] Group 4 - The trade relationship between the US and EU has been strained, with the US imposing higher tariffs since Trump's administration, impacting both economies negatively [5] - Research indicates that a 10% to 25% tariff increase on European imports could lead to a 0.3% decline in EU GDP and a 0.7% decline in US GDP [5]

Group 1 - The Japanese Minister of Economic Revitalization, Akizawa Ryozo, stated that efforts are being made to reach a comprehensive agreement covering a wide range of issues [1] - The focus of the agreement includes expanding trade, addressing non-tariff barriers, and enhancing cooperation on important economic security issues [1]

Group 1 - The EU is seeking to reach a preliminary trade agreement with the US this week to lock in a 10% tariff rate before the August 1 deadline while continuing negotiations for a permanent agreement [1] - The EU aims to exempt certain key products from the 10% tariff, including aircraft, aircraft parts, wine, and spirits, with some form of reduction expected as part of the preliminary agreement [1][4] - The US has announced a delay of the previously scheduled universal tariffs, originally set for July 9, until at least early August [1] Group 2 - The EU is urging the US to implement quotas and exemptions to effectively lower the 25% tariff on cars and car parts, as well as the 50% tariffs on steel and aluminum, although immediate breakthroughs on these tariffs are not anticipated [5] - Discussions are ongoing regarding a compensation mechanism that would allow companies producing cars in the US to export a certain number of tax-exempt vehicles [5] - Any preliminary agreement may be short-lived and non-binding, with both parties aiming to reach consensus on non-tariff barriers, digital trade, and economic security [5] Group 3 - There are divisions among EU member states regarding the acceptance of an imbalanced agreement, with some advocating for a swift deal while others prefer a stronger negotiating position [5] - The EU has approved tariffs on €21 billion ($24.6 billion) worth of US goods in response to US metal tariffs [6] - An additional list of tariffs targeting €95 billion worth of US goods is prepared by the EU in response to US tariffs on industrial products, including Boeing aircraft and American-made cars [6]

Core Insights - Bitcoin is currently up by 0.68%, with a price of $109,000 [1] - Thailand's Finance Minister Pichai Chunhavajira stated that Thailand is making a final attempt to avoid a 36% punitive export tariff imposed by the Trump administration [1] - Thailand plans to eliminate tariffs and non-tariff barriers on U.S. goods [1]

Group 1 - The US-EU trade negotiations have not made significant progress, with discussions expected to continue until the weekend [1] - The EU aims to reach a principle agreement with the US by July 9, and if not, seeks to extend the deadline for tariff increases [1][2] - The focus of the negotiations is on tariff exemptions for goods such as aircraft parts and spirits [1] Group 2 - Core demands between the US and EU are significantly divergent, with the EU willing to make concessions on purchasing US agricultural products, weapons, and LNG, while the US insists on addressing the trade deficit with demands on non-tariff barriers [2] - The US has imposed a 50% tariff on EU steel and aluminum products, a 25% tariff on automobiles, and a 10% baseline tariff on nearly all other goods [3] - The EU has postponed retaliatory tariffs on $210 billion worth of US imports until July 14, and is considering a second set of countermeasures initially estimated at €95 billion, now reduced to €72 billion [3] Group 3 - Goldman Sachs predicts that the most likely outcome of the US-EU trade negotiations will be a limited compromise [4]

Group 1 - The USD/JPY exchange rate increased by 0.93%, currently at 144.99, following the release of the U.S. non-farm payroll report, and has continued to fluctuate at high levels [1] - U.S. Deputy Treasury Secretary Faulkender highlighted that the issue with Japan pertains to "non-tariff barriers" [1]