The White House stated that Trump has postponed the tariff "deadline" to August 1 and will send tariff letters to 12 countries, reportedly not including the European Union

Recent news indicates that the Trump administration has begun directly notifying multiple countries of the new tariff rates that the U.S. will impose, while the European Union is expected to avoid an escalation of the tariff war by reaching a trade agreement with the U.S. On Monday, July 7, Eastern Time, after U.S. President Trump announced new tariffs on Japan and South Korea, White House Press Secretary Levitt stated that the U.S. would also send tariff letters to another 12 countries on the same day, confirming that the "deadline" for reciprocal tariff negotiations on July 9 would be postponed to August 1. According to CCTV News, the White House stated on the 7th that 12 other countries would receive letters regarding trade, and in addition to these 12 countries, the U.S. would send out more letters. CCTV mentioned that the White House indicated Trump would sign an executive order to postpone the originally scheduled July deadline for tariff negotiations to August 1. This means that the tariff negotiation period between the Trump administration and its trade partners has been extended by more than three weeks. According to Xinhua News Agency, Trump announced the imposition of so-called "reciprocal tariffs" on April 2, which triggered a sharp decline in the U.S. financial markets. Under pressure from various parties, Trump announced on April 9 a 90-day delay in imposing high "reciprocal tariffs" on some trade partners, while maintaining a 10% "baseline tariff," simultaneously threatening U.S. trade partners to complete negotiations with the U.S. by July 8. Subsequently, media reports indicated that the European Union would not receive letters from the U.S. regarding increased tariffs. Following this news, the euro narrowed its decline. The euro rose back above 1.1700 against the dollar, having previously fallen less than 0.6% during the day. After Trump announced tariffs on Japan and South Korea at midday, the euro fell below 1.1690 against the dollar, hitting a new intraday low since June 27, with a decline of nearly 0.8% during the day. EU spokesperson says close to reaching a principled trade agreement; Portuguese finance minister says agreement tariffs may be below 10% Before the news that the EU would not receive notification letters from the U.S. regarding tariffs, earlier on Monday, EU Commission spokesperson Olov Gill stated that after a phone call between EU Commission President von der Leyen and Trump last Sunday, both sides are moving towards a framework for a trade agreement. Gill said, "They (von der Leyen and Trump) had a good communication. We are now at the beginning of the final stage, at least in terms of a principled agreement." According to Xinhua News Agency, EU Commission spokesperson Gill stated on Monday that the EU is still striving to reach a principled bilateral trade agreement with the U.S. before July 9, and that the EU and the U.S. are continuing their contacts. The report mentioned that Gill stated the EU is committed to reaching an agreement that benefits EU businesses, consumers, and the global economy. Additionally, the EU is prepared for all possible outcomes, including a countermeasure list, but does not plan to initiate that process at this time. He stated that the EU has completed consultations with member states, businesses, and stakeholders. Currently, the EU still prioritizes negotiations but is also preparing for other possible outcomes On the same Monday, Portuguese Finance Minister Joaquim Miranda Sarmento stated that he expects the EU and the United States to reach an agreement, with tariff rates possibly below 10%, which would help maintain smooth trade. Sarmento mentioned that there is a possibility of reaching an agreement with very low tariffs, a mutually beneficial agreement that would allow the EU to continue trading and create more value for EU citizens. He looks forward to "understanding the latest progress of the negotiations between the European Commission and the U.S. government" at the EU finance ministers' meeting held on Monday and Tuesday. Risk Warning and Disclaimer The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at their own risk