#BTC overview of rhetoric and expectations in the media of the USA and Europe regarding tariffs as of July 9.

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🇺🇸 USA

• New “reciprocal tariffs”: President Trump begins sending notifications indicating new tariffs (10–30%, in some cases up to 70%) — letters are to be sent by July 9, and they will take effect from August 1

• End of the 90-day moratorium: The suspension of tariffs by country expires on July 9, after which they automatically return unless an agreement is reached

• Financial and market expectations: Major media emphasize that the rates are more symbolic, and the positive backdrop is supported by the markets and the impression that Trump may back down from threats (“Trump Always Chickens Out” — TACO)

🇪🇺 Europe

• Negotiations until July 9: The EU aims to reach a basic agreement (headline deal) by the deadline to avoid a wave of increased tariffs (up to 50%)

• EU accepts a 10% level: European officials are increasingly getting used to a baseline level of 10%, although they are trying to secure concessions for key sectors (autos, pharmaceuticals) — negotiations are complicated by divisions within the bloc

• Rhetoric of the European Commission: The backdrop is a review of the rhetoric and expectations in the media of the USA and Europe regarding tariffs as of July 9.