President Donald Trump announced that the United States is likely two days away from sending a formal letter to the European Union outlining new tariff rates on EU exports to the US. Trump described recent interactions with the EU as positive, noting that the European Commission president has been treating the US well, a change from previous relations. He emphasized that the letter typically signifies a finalized deal and mentioned that some tariff rates could be as high as 60% or 70%. The letter will specify the tariff levels that EU imports to the US will face starting in August 2025.