PANews reported on July 13 that according to Jinshi, the EU has been trying to reach a temporary agreement with the United States to avoid higher tariffs, but Trump's letter broke the EU's recent optimism. However, Trump did leave room for further adjustments. Brian Jacobson, chief economist of Annex Wealth Management, wrote, "Like previous letters, there are many conditions and clauses to reduce these tariffs, which may be why the market may not like the tariff negotiations, but it is not panicking about it."