"German officials, who have pressed for a quick deal, no longer see an agreement with the U.S. as the most likely outcome" Great reporting from the WSJ 1/

"German leaders initially understood Trump’s letter ... as a last-minute ploy to extract better conditions. They finally snapped after finding out about U.S. officials’ pressure this past week for the EU to accept higher baseline tariffs and no relief for its auto sector" 2/

There could have been a deal in early July ... 3/

A final note: the closer the base tariff gets to the "China tariff" (on sectors that aren't covered by the 301 at 25%) and the more sectors that are covered with high 232 tariffs, the less impact the China tariff has ... 5/5