With the July 9 deadline for paused U.S. tariffs fast approaching, major trade partners like the EU, Canada, and Japan are scrambling to negotiate deals—but uncertainty hangs heavy in the air. 🌩️
European officials, speaking anonymously, revealed the EU may reluctantly accept a 10% baseline tariff on exports to the U.S., despite earlier hopes for lower rates. Washington has warned that tariffs on steel, aluminum, and cars could skyrocket to 50% if no agreement is reached. 🚗💸
"Ten percent is a sticky issue," admitted one EU official, noting the U.S. now relies on tariff revenue. Meanwhile, Germany’s leadership hinted a full EU-U.S. deal before July is unlikely, pushing instead for a temporary pact mirroring the recent U.S.-UK agreement.
Across the Atlantic, tensions simmer as Canada threatens retaliatory tariffs on U.S. metals by late July. At the G7 summit, leaders expressed cautious optimism, but U.S. officials doubled down, accusing the EU of unfair deals. 💼🤝
Japan’s Economic Revitalization Minister Ryosei Akazawa added to the drama, calling U.S.-Japan talks "uncertain" and emphasizing unresolved differences. With the clock ticking, the global trade landscape could face a seismic shift—and no one’s sure who’ll blink first. ⏳🌐
