Donald Trump is the leader of the USA. He sent a message to the European Union. This message is an ultimatum. An ultimatum is a final warning with a threat.
The EU and the USA have a trade deal. Donald Trump says: The EU is too slow. He sets a date. The date is July 4. This is a special day for the USA. It is the birthday of the USA.
Donald Trump threatens with high taxes. These taxes apply to goods from other countries. Goods from Europe will become very expensive. Donald Trump wrote this on his website. He spoke to Ursula von der Leyen before. She leads the EU Commission.