EU awaits Trump letter
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Trump, tariff and Things Stand
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Markets hit record highs despite new Trump tariffs on Canada, Brazil, and EU. Earnings season begins, with volatility ticking up and investors watching guidance closely.
Stocks plunged Friday after President Trump floated a 35% tariff on Canadian goods not governed by the USMCA trade pact — while threatening a new dictated levy on the European Union. The Dow Jones Industrial Average fell 279 points,
"The EU and China are broadly on a colliding trajectory in terms of their trade and industrial policy concerns," he told CNBC. Bones of contention include the challenge of China's overcapacity and trade diversion to Europe, Stec, who is also head of the Mercator Institute's Brussels office, explained.
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.
NEW YORK (Reuters) -Investors awaited tariff news between the U.S. and European Union on Friday that could add a potentially volatile development to the end of a week in which President Donald Trump reignited his global trade war.
Trump has broadened his trade war in recent days, setting new tariffs on a number of countries along with a 50% tariff on copper. Among sectors, European personal and household goods fell 1%, while healthcare stocks declined 0.7%. Defence stocks were up 0.6%.
The European Union prepares for potential new tariffs introduced by U.S. President Donald Trump amid ongoing trade negotiations. With Trump’s tariffs on imports from various countries rising, including a significant hike on Canadian goods,
Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a more aggressive trade stance.