Group 1 - The EU has proposed a historic countermeasure against US tariffs, imposing a maximum 30% tariff on $930 billion worth of US goods, including over 2,000 items such as Boeing aircraft and Harley-Davidson motorcycles, effective August 7 [1] - The urgency of negotiations between the US and EU is highlighted by Trump's shift in tone, indicating a potential for a significant trade agreement, as the EU's countermeasures coincide with ongoing US-China trade talks [3] - The US is attempting to leverage negotiations by linking the reduction of EU auto tariffs to the lifting of US beef import restrictions, which has been perceived as an unfair tactic [3] Group 2 - The UK and India have signed a Free Trade Agreement (FTA), aiming to enhance their trade relations and strengthen their negotiating position with the US, particularly post-Brexit [5] - The UK will eliminate tariffs on 99% of Indian goods, while India will reduce tariffs on 90% of UK goods, with significant reductions on British whisky, which previously faced a 150% tax [5] - Concerns have been raised regarding the potential impact of India's rare earth alliance on US defense supply chains, particularly affecting the production of F-35 fighter jets [5]

Group 1 - The trade war between the US and the EU has intensified, with French President Macron criticizing certain countries' tariff policies as tools of coercion, specifically targeting the US [1][3] - Macron's proposal for a "zero tariffs for zero tariffs" strategy has become a central countermeasure for Europe, warning that if the US maintains a 10% baseline tariff, Europe will implement equivalent retaliatory measures [3][4] - The EU's trade deficit with the US has expanded to $158 billion in 2024, with significant imbalances in aerospace and digital services [3] Group 2 - The European Commission is preparing to impose tariffs on $95 billion worth of US goods, while also implementing restrictions in digital tax and public procurement [3][4] - The actual impact of tariffs is evident in Europe, with a report indicating an 18% decrease in EU steel capacity utilization and a €2.3 billion reduction in automotive exports [4] - If the trade war escalates, GDP growth in the US and EU could decline by 0.8% and 1.2%, respectively, prompting European companies to make defensive adjustments [4] Group 3 - China's Foreign Minister Wang Yi's visit to Europe is significant, coinciding with the 50th anniversary of China-EU diplomatic relations and the first strategic communication after the EU Commission's reshuffle [6][9] - The visit aims to provide a platform for direct communication and lay the political groundwork for the upcoming China-EU leaders' meeting [6] - The EU is experiencing a strategic dilemma, trying to maintain economic sovereignty while not fully aligning with either the US or China [6][9] Group 4 - The trade war's ripple effects are impacting global supply chains, with the UN warning that the most vulnerable economies are suffering the most from US tariff policies [7] - Wang Yi's visit offers Europe a strategic opportunity, aligning China's open and cooperative approach with the EU's goal of strategic autonomy [7][9] - Despite existing tensions, both sides have reached a consensus to restart negotiations on price commitments, indicating a potential for cooperation [7][9]