• Will brief EU ambassadors on Friday afternoon.

The deadline is August 1st. Will we get a deal by then?

In my opinion, eventually the US will get away with higher tariffs (probably 10%) and the EU will secure some concessions in key areas for them.

If that doesn't happen before August 1, then I suspect we will get another extension of the deadline and the EU will keep on paying the 10% tariff that is in place since April 9.

sefcovic European Union 2
Source: Forex Live