Ahmet Bedirhan Arvas 
US President Donald Trump stated that trade agreements with the European Union (EU) are largely completed and most of these agreements are now in the final stages, before the high tariff import regulations planned to come into effect on August 1, 2025. Trump mentioned that the EU may be forced to reduce its tariffs and indicated that tariffs applied after this date could vary by country. He emphasized that the EU should adopt a similar approach, citing the agreement made with Japan as an example. The agreement with Japan reduced tariffs in the automotive sector from 27.5% to 15%, and Japan agreed to invest \$550 billion in the US.
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Trade Agreements Status
Trade Minister Howard Lutnick announced that August 1st is a “hard deadline,” and new tariffs will be imposed on countries with which no agreement has been reached after this date. Lutnick stated that a basic 10% tariff will be applied to smaller countries, but higher tariffs may be imposed on larger economies. Discussions with the EU suggest that a 15% tariff is possible.
Donald Trump directly stated about the EU: “The EU may be forced to lower its tariffs.” The European Central Bank (ECB) decided not to change interest rates due to the uncertainty that US tariffs could create for the European economy. ECB President Christine Lagarde stated that the effects of global trade should be monitored, and therefore interest rate policies should be carefully evaluated. The 14% appreciation of the euro against the dollar this year is affecting export competitiveness and complicating inflation dynamics.
While negotiations between the US and the EU continue, it is reported that the EU is preparing to implement counter-tariffs worth 93 billion euros. This could signal a new wave of tensions in transatlantic trade relations.
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