Tariffs: The US and EU are very close to reaching an agreement. Work is underway to iron out rough edges and finalize the agreement.
It's almost done. Barring any last-minute surprises—especially given the unpredictability of President Donald Trump and the firmness of his French counterpart Emmanuel Macron—tomorrow, Sunday, July 27, the tycoon and European Commission President Ursula von der Leyen , who will meet face-to-face in Scotland, will announce a basic agreement between the United States and the Old Continent to avoid the 30% US tariffs on the EU starting August 1 and Brussels' countermeasures, including a bazooka to target American web giants.
Trump, after having signed the agreement with Japan in recent days, is celebrating the agreement with Labour Prime Minister Keir Starmer's United Kingdom and has no interest in sparking a trade war with Europe (as financial markets and even the managers of many US giants have made clear). The very last details are still missing, which need to be ironed out and adjusted, but the face-to-face meeting between the White House leader and Ursula is 95% likely to result in an agreement on 15% tariffs on products exported from the European Union to the United States.
The negotiations , which are continuing even now to avoid any last-minute delays and surprises, are intended to smooth out any rough edges. The current scenarios include a European commitment to purchase even more liquid gas from the US, given that relations with Russia are now at zero, and investments in North America, as requested by the tycoon in Tokyo . This is in addition to confirmation of the green light to increase military spending to 5% of GDP, partly through the purchase of armaments from Washington itself.
On the other side, Europe is also trying to achieve the best possible outcome. Friedrich Merz 's Germany is particularly interested in heavy industry and the automotive sector, given Volkswagen's nearly 40% profit collapse in the second quarter of 2025. Giorgia Meloni , on the other hand, has been working meticulously and daily on behalf of Italy for days, even weeks, through telephone contacts with European governments and the United States—particularly with Vice President J.D. Vance—to secure exemptions for the sectors most exposed to Italian exports to the US, namely pharmaceuticals and agri-food.
In short, the feeling is good and the basis for an agreement, even if only in principle, is in place as early as tomorrow in Scotland. Sources in Brussels , very close to President von der Leyen , confirm to Affaritaliani The EU Commission President's intention to "close" the matter. If they're rosy...they'll bloom. And they should.
Affari Italiani
