President Trump’s tariff letter to the European Union is now public. It confirms a 30% blanket tariff on all EU goods entering the United States starting August 1. The letter was sent on July 11 but released after markets closed on July 12. That timing wasn’t accidental. It delayed immediate market reaction and set up Monday’s open for volatility.
The tariff applies across all sectors. No exemptions. No phased rollout. The letter was addressed to European Commission President Ursula von der Leyen and posted on Trump’s Truth Social account. The EU had been pushing for a comprehensive trade agreement. That effort stalled. Now the bloc faces a direct import tax that hits autos, pharmaceuticals, industrial equipment, and consumer goods.
This move is part of a broader tariff regime. Mexico is also facing a 30% rate. Brazil got hit with 50%. Copper imports are now taxed at 50%. Pharmaceuticals could see tariffs up to 200%. The Treasury Department reported $27.2 billion in customs duties collected in June, a record haul that helped produce a $27 billion budget surplus for the month.
The S&P 500 closed at 6,259.75 on Friday, down 0.33% from Thursday’s close of 6,280.46. The Nasdaq Composite ended the week at 20,585.53, down 0.22%. Both indexes are priced for growth, not friction. Monday’s open will test that setup. If the EU retaliates or if supply chains start to shift, the impact won’t be limited to trade desks. It’ll hit earnings, margins, and consumer prices.
The White House says the tariffs are about restoring reciprocity. The executive order signed earlier this week locks in the August 1 start date. The only way out is for countries to build or manufacture inside the United States. That’s the off-ramp. Brussels is scrambling to secure exemptions, but the window is closing.
Sources:
https://www.dw.com/en/trump-announces-30-tariffs-on-eu-goods-from-august-1/a-73253662
https://www.usnews.com/news/top-news/articles/2025-07-12/trump-announces-30-tariffs-on-eu
https://finance.yahoo.com/news/trump-announces-30-tariffs-eu-124002388.html