The tariff crisis Trump's tariff policy

EU summit: We must be ready to tear up the tariff agreement

EU Commission Vice President Teresa Ribera says that the EU must be ready to cancel the tariff agreement with the US if Donald Trump continues to pressure the EU to change its digital legislation, writes the FT.

– We can be friendly, polite and try to solve problems, but we cannot accept just anything, she tells the business newspaper.

At the same time, she urges the EU to be brave and resist pressure from the US to change the technology laws.

According to sources for the business newspaper, the US has pressured the EU during negotiations to change the Digital Services Act and the Digital Markets Act.

Exemption for packages under $800 disappears

On Friday, the "de minimis" exemption, which allowed packages worth under $800 to enter the United States without customs duty, will disappear, writes CNBC.

This involves approximately 4 million packages daily, which in total constitute 90 percent of all goods imported into the United States. The new fees will generate a tariff bill of up to $71 billion against small and medium-sized companies, writes the channel and refers to the E-Merchants Trade Council's calculations.

- Small businesses have thin margins. Many will be hit hard by these changes, says Crux Analytics CEO Jacob Bennett to CNBC.

The fee has different levels. If the tariff rate is below 16 percent, as is the case for the EU with its 15 percent tariff, for example, the fee will be $80 per package.