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Trump Unveils 70% Tariffs; Trade Deal Hopes Dim

7/6/2025

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Summary

Story summary

President Trump is set to dispatch letters to 12 nations outlining steep new tariffs, some soaring to 70%. With a July 9 deadline approaching, only minor agreements with the UK and Vietnam have emerged, while larger deals seem out of reach. EU's von der Leyen warns that a comprehensive trade deal is unlikely, sparking worries about economic fallout.

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Story summary

President Trump is set to dispatch letters to 12 nations outlining steep new tariffs, some soaring to 70%. With a July 9 deadline approaching, only minor agreements with the UK and Vietnam have emerged, while larger deals seem out of reach. EU's von der Leyen warns that a comprehensive trade deal is unlikely, sparking worries about economic fallout.