They will certainly not be vacation postcards. The Letters of Trumpalready ready starting today, mark the beginning of a very delicate week for the global economy. The president prepares to hit with New rates up to 70%while the tensions remain high with the Brics gathered in Rio and Brussels under pressure for threats on the key sectors.
A dense picture of deadlines, temporary agreements, warnings and aggressive rhetoric that keeps the markets in the balance and governments committed to containing the damages.
Trump sends the letters, the move announced on Truth
By now the press releases of Trump, the most fiery ones, are read on his social staff, Truth. And in fact, right there he confirmed a few hours ago that today at 12 (New York timetable), the 18 Italians, the First official letters to foreign governments. The new customs rates will be notified in these missives and negotiations on suspended duties will be closed.
The president threatened Additional rates of 10% For all countries that will decide to “align” themselves with the policies supported by the Brics, specifying that there will be no exceptions to this line.
Trump also explained that the letters will continue to be sent tomorrow and the day after tomorrow, with the aim of close with most partners by 9 July. “They could be 12, perhaps 15 … and we also concluded agreements,” he said before returning to Washington to meet Netanyahu.
The Brics arise from Rio de Janeiro
The reaction of the Brics was clear. The representatives of the 11 emerging economies Riuniti in Rio de Janeiro defined the “indiscriminate” Trump duties, as well as reporting the discontent for military actions against Iran. In a joint note they expressed “series concerns about the increase in unilateral measures that risk affecting global growth”.
Trump’s hostility towards the Brics block is not only a commercial, but geopolitical issue: the group represents a Threat to US hegemonyboth for the global economic impact (about half of the world population and 40% of GDP) and for growing political cohesion.
Washington fears that their common initiatives, such as the dedellarization or New alternative financial circuitscan reduce American influence on international markets and rules. The war of duties thus becomes a tool to discourage anti-American alliances and reiterate the centrality of the United States (one of the few tout-curtains remained) in global exchanges.
At what point we are with the negotiations with the EU
Negotiations with the EU are one of the hottest points of our agenda. The week that opens coincides with the FIne della della extension of 90 days granted by Trump: Wednesday 9 July is the key date. The Treasure Secretary Bessent, interviewed by the CNN, said that over one hundred letters They are ready, with rates from 10% to 70%, excluding only the closest partners, such as Australia and Israel.
On Europe the American strategy remains that of the “maximum pressure”, as Beesent reiterated:
“We focus on 18 countries representing 95% of our commercial deficit”.
From the forum in Masseria, Tajani invited to calm:
“There are three or four different hypotheses, we avoid countermeasures on the whiskey, let it lose, and we try to export as many wines as possible”.
On the last weekend, the negotiations between Brussels and Washington continued after the visit of Sefcovic, with the American threat Of Hit European agri -food at 17%. It already remain in force of 50% duties on aluminum and steel and 25% on cars and components. Beesent also spoke of progress and said: “The next 72 hours will be decisive”.
Will letters come to 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. So Italy is linked to double wire with what will be established between the EU and the USA.
In case of badly successful agreements, Rome risks being among the recipients of the Missive of Trump, with rates that would take from August 1st. The outcome of the negotiations in Brussels will be decisive to understand if and how our country will end up in the sights of the US measures, despite the celebrations of July 4, also celebrated by the highest positions of the Italian state.
Agreements already reached: United Kingdom and Vietnam
At the moment, only London and Hanoi have signed an agreement with Washington. The United Kingdom negotiated one 10% reductionwhile Vietnam stopped at 20%, well below 46% announced in the spring.
The Japan On the contrary, it remains under shooting. At the weekend, Tokyo’s chief negotiator had two long phone calls with the American minister Howard Lutnick, but the threat of duties “at 30%, 35% or as much as we want”, looms.
