Trade Policy & Deadlines - The US is approaching an August 1st deadline for imposing reciprocal tariffs on nations without trade agreements [1] - Multiple trade deals have been made leading up to the August 1st deadline, including deals in Southeast Asia and with the European Union [2][3] - A deal with India seems unlikely, with potential for a 25% reciprocal tariff [3] - The August 1st deadline is firm and will not be extended [4] China Trade Relations - Tariffs on goods from China currently range from 50% to 55%, depending on the product [5] - The deadline for Chinese tariffs is August 12th, with potential for extension by 90 days [5][6] - If no agreement is reached and the deadline isn't extended, tariffs on China could increase from 50-55% to 80-85% [6] - US and Chinese delegations are in meetings to avoid escalating the trade war [6][7] Overall Impact - US tariffs are expected to be significantly higher than when the Trump administration took office [8] - The US is becoming a more protectionist economy [9]

Europe’s nationalist parties have taken aim at the trade agreement the European Union announced with the US over the weekend, just as mainstream politicians have started expressing their own concerns https://t.co/jXOJSZ1dQe ...

Trade Agreement Overview - US and EU reach a trade agreement, averting a potential trade war [1][6] - The deal includes a 15% tariff on most European goods, including cars [1] - EU agrees to purchase $750 billion of American energy and invest $600 billion into the US [1] - Aircrafts, certain chemicals, and some pharmaceuticals are exempt from tariffs [2] - The 50% tariff on steel will remain unchanged [2] Tariff Rate Comparison - The 15% tariff is lower than the previously threatened 30% but higher than the EU's desired 10% [3][9] EU's Perspective - The EU expresses frustration as the deal may significantly impact European GDP [10] - The EU is actively pursuing trade agreements with the Indo-Pacific region, Latin America, Southeast Asia, and Africa [10] - These deals aim to reduce trade barriers and increase trade, potentially diverting growth from the US [11] Long-Term Implications - The agreement may lead to a rebalancing of global trade and alliances [13] - There are concerns that the agreement could set a precedent where the US prioritizes tariffs and trade over its relationship with Europe [8] - Increased tariffs may lead to higher prices for American consumers [14][17] - Companies have been absorbing costs, but this is unsustainable, suggesting prices will eventually rise [18][19]

Meanwhile, the US and the EU reaching a framework trade agreement just a few days before punitive US tariffs were set to snap into place. The US will place a 15% import tariff on most goods from the EU. The EU planning to invest hundreds of billions of dollars in the US and ramp up purchases of US energy and military equipment.Here is President Trump on all of this yesterday. I think it's great that we made a deal today instead of playing games and maybe not making a deal at all. I think it's uh I'm going t ...

Several EU officials responsible for negotiating the trade agreement with the US think the deal they hammered out was the least-bad option available to the bloc https://t.co/NStdudqSBy ...

The European Union and the US appear to differ on some key details in their new trade agreement, underscoring the difficulty they’ll have in turning this deal into a reality. https://t.co/R8WiwL8fzI ...

The US and EU agreed to deal that will see the bloc face 15% tariffs on most of its exports https://t.co/UqA3a8pQqF ...

After months of intensive talks and shuttle diplomacy, a trade agreement between the European Union and the US now rests mostly on Donald Trump https://t.co/Xny0ClBzYD ...

THIS IS A BALANCE OF POWER LIVE FROM WASHINGTON, D.C.. JOE: FROM WASHINGTON, D.C. STUDIO TO TV AND RADIO AUDIENCES WORLDWIDE WELCOME TO THE OF POWER. TYLER: TONIGHT THE PRESIDENT HEADS TO SCOTLAND WITH JUST ONE WEEK UNTIL THE TARIFF DEADLINE. >> I WILL BE MEETING WITH THE EU ON SUNDAY. WE WILL BE WORKING ON A DEAL. WE WILL SEE IF WE CAN MAKE A DEAL. I HIGHLY RESPECTED WOMAN. WE LOOK FORWARD TO THAT. JOE: TRUMP LANDING IN SCOTLAND A SHORT TIME AGO SET TO MEET WITH THE PRESIDENT OF THE EUROPEAN COMMISSION AS ...

Trade Agreement - South Korea and the US reaffirmed their commitment to pursue a mutually beneficial trade agreement [1] - The deadline for the trade agreement is August 1 [1]