According to a report from Jin10 on July 25, despite recent optimism from EU diplomats about a trade agreement being reached, Trump stated that the likelihood of an agreement on lowering import tariffs between the US and Europe is "only fifty percent." Trump said, "I think the chance of reaching an agreement is fifty-fifty, it may even be less, but there is still a fifty percent chance." Trump added that negotiators from the US and Europe are working "closely" together in an effort to reach an agreement. Earlier this month, Trump issued a letter stating that if the US and Europe cannot reach an agreement by August 1, the EU will face punitive measures that impose a 30% tariff on most goods, as well as additional tariffs specific to certain industries. Trump also indicated that in the coming days, he will unilaterally issue more letters to set a new round of tariffs for other countries.