Trump, duties coming: first letters to the EU today

These won't be holiday cards. Trump's letters , ready to go starting today, mark the start of a very delicate week for the global economy. The president is preparing to hit with new tariffs of up to 70% , while tensions remain high with the BRICS meeting in Rio and Brussels under pressure for threats on key sectors.

A dense picture of deadlines, temporary agreements, warnings and aggressive rhetoric that keeps markets on edge and governments busy containing the damage.

Trump Sends Letters, Move Announced on Truth

By now, Trump 's press releases, the most fiery ones, can be read on his personal social network, Truth . And in fact, right there he confirmed a few hours ago that today at 12 (New York time), 18 Italian time, the first official letters to foreign governments will be sent. In these missives, the new customs tariffs will be notified and negotiations on suspended duties will be closed.

The president threatened additional tariffs of 10% for all countries that decide to “align” with the policies supported by the BRICS, specifying that there will be no exceptions to this line.

Trump also said the letters would continue to be sent tomorrow and the day after, with the goal of closing with most partners by July 9. “It could be 12, maybe 15… and we have also closed deals,” he said before returning to Washington to meet with Netanyahu.

BRICS Rise Up from Rio de Janeiro

The BRICS reaction was clear. Representatives of the 11 emerging economies meeting in Rio de Janeiro called Trump's tariffs "indiscriminate", while also signaling discontent with military actions against Iran. In a joint statement, they expressed "serious concerns about the increase in unilateral measures that risk hitting global growth".

Trump's hostility towards the BRICS bloc is not just a commercial issue, but a geopolitical one: the group represents a threat to US hegemony , both for its global economic impact (about half the world's population and 40% of GDP) and for its growing political cohesion.

Washington fears that their joint initiatives, such as de-dollarization or new alternative financial circuits , could reduce American influence on international markets and rules. The tariff war thus becomes a tool to discourage anti-American alliances and reaffirm the centrality of the United States (one of the few remaining empires tout-court) in global trade.

Where are we at with the negotiations with the EU?

Negotiations with the EU are one of the hottest points on our agenda. The week that opens coincides with the end of the 90-day extension granted by Trump: Wednesday, July 9 is the key date. Treasury Secretary Bessent, interviewed by CNN, said that over a hundred letters are ready, with tariffs from 10% to 70%, excluding only the closest partners, such as Australia and Israel.

On Europe, the American strategy remains that of "maximum pressure", as Bessent reiterated:

“We focus on 18 countries that account for 95% of our trade deficit.”

From the Forum in Masseria, Tajani called for calm:

“There are three or four different hypotheses, let's avoid countermeasures on whisky, let's leave it alone, and try to export as many wines as possible”.

Last weekend, negotiations between Brussels and Washington continued after Sefcovic's visit, with the American threat to hit European agri-food at 17% . Duties of 50% on aluminum and steel and 25% on cars and components remain in place. Bessent also spoke of progress and said: "The next 72 hours will be decisive".

Will letters arrive in Italy too?

On the European front, as we have said, the situation remains uncertain: if the Union manages to conclude a partial agreement with Washington, Italy could avoid a formal letter. Therefore, Italy is tied hand and foot to what will be established between the EU and the US.

In the event of a failed agreement, Rome risks being among the recipients of Trump's letters, with tariffs that would come into effect on August 1. The outcome of the negotiations in Brussels will be decisive in understanding if and how our country will end up in the crosshairs of US measures, despite the celebrations of July 4, celebrated also by the highest offices of the Italian State.

Agreements already reached: United Kingdom and Vietnam

So far, only London and Hanoi have reached an agreement with Washington. The United Kingdom has negotiated a 10% reduction , while Vietnam has stopped at 20%, well below the 46% announced in the spring.

Japan , on the other hand, remains under fire. Over the weekend, Tokyo’s chief negotiator had two long phone calls with US Secretary Howard Lutnick, but the threat of tariffs “at 30%, 35% or whatever we want” looms.