The European Union will not receive a letter from the United States setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday, and is eyeing possible exemptions from the U.

President Donald Trump has sent out tariff letters to seven smaller U.S. trading partners in his first batch of import tax announcements of the day.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), a Swedish company, repeatedly cautioned this year that any US tariffs on European imports could affect its profit margins by around one percentage

The European Union may be nearing a trade agreement with the United States but is struggling to obtain immediate tariff relief and a commitment not to introduce new measures, the head of the European Parliament's trade committee said on Wednesday.

Trump slapped a 50% tariff on Brazil, and Brazilian President Luiz Inacio Lula da Silva said his country would respond.

President Trump announced a 50% tariff on U.S. copper imports and Brazilian goods starting August 1, citing national security concerns. This escalation may lead to a trade war with Brazil, as both countries engage in a bitter dispute over various issues.

European Commission President Ursula von der Leyen survived a no-confidence vote in the European Parliament on Thursday, brought by mainly far-right lawmakers who alleged she and her team undermined trust in the EU through unlawful actions.

Trump said the United States would impose tariffs of 25% on goods from Tunisia, Malaysia and Kazakhstan, with levies of 30% on South Africa, Bosnia and Herzegovina, climbing to 32% on Indonesia, 35% on Serbia and Bangladesh, 36% on Cambodia and Thailand; and 40% on Laos and Myanmar. A deal with India was close, Trump added.