Articles in this Cluster
28-07-2025
President Trump announced a trade agreement with the European Union, his biggest trade deal to date and a much-needed political win after months of struggling to secure deals. The agreement sets a 15% tariff on most EU goods, including cars, and includes commitments from the EU to purchase $750 billion of American energy and increase investment in the US by over $600 billion. The two sides also agreed to drop tariffs to zero on certain goods, including aircraft and agricultural products. The deal may help divert attention from controversy surrounding the Jeffrey Epstein files and tamp down criticism of Trump's economic policies, although economists have expressed skepticism about the wisdom of his tariffs. The agreement's details are still unclear, and it may face legal challenges, with some analysts cautioning that it is not a comprehensive free trade agreement.
28-07-2025
The US and EU have agreed a trade deal, ending a months-long standoff between the two economic partners. The deal includes a 15% US tariff on EU goods, half of the 30% rate previously threatened by President Trump. The EU will open its markets to US exporters with zero tariffs on certain products. The deal is seen as a significant victory for Trump, with the EU gaining some stability but potentially not as much as it had hoped. The agreement includes EU investment in the US, including $600bn in various sectors and $750bn in energy over the next three years. Some goods, such as aircraft and plane parts, will not attract tariffs. However, a 50% US tariff on steel and aluminium will remain in place. The deal still requires approval from EU member states.
28-07-2025
The US and EU have reached a framework deal on tariffs after tense negotiations, with the US agreeing to reduce tariffs on EU goods from 30% to 15% in return for the EU opening up its markets to American exports. The deal is seen as a major win for President Donald Trump, but not a total defeat for European Commission President Ursula von der Leyen, as it removes some uncertainty and applies the lower rate to many major European exports. The EU had faced significant pressure to reach a deal, given its reliance on the US for security and its sluggish economic growth. The agreement is expected to bring in around $90bn in tariff revenue for the US government and could pave the way for further trade deals, including with China.
28-07-2025
The upcoming week is packed with significant financial and macroeconomic events, including earnings reports from Meta Platforms, Microsoft, Amazon, and Apple, a U.S. Federal Reserve rate-setting committee meeting, the release of the personal consumption expenditures price index, and U.S. jobs data for July. Additionally, U.S. President Donald Trump's August 1 deadline for new tariffs looms. Recently, Trump announced a trade agreement with the European Union, with a 15% tariff on most European goods exported to the U.S., and stated that the Fed is ready to lower rates. The S&P 500 had five consecutive record closes last week, and Palantir joined the top 20 most valuable U.S. companies after its market cap hit $375 billion.
28-07-2025
A new US-EU trade deal imposes a 15% tariff on most European goods, including cars. According to the OEC Tariff Simulator, this will lead to a 46% drop in global exports to the US by 2027, or $2.68 trillion, and a 12% increase in US exports to the world, or $1.59 trillion. The top US companies importing from the EU will be impacted, with IKEA being the largest at 28%, followed by Southern Glazer's Wine and Spirits. The tariff is expected to cause a "rewiring" of trade relationships, with countries like China importing more from Russia, Vietnam, and Saudi Arabia, and less from the US. The increased tariffs will make many products more expensive, potentially leading to a lack of product diversity on US shelves.
28-07-2025
The U.S. and EU have announced a deal that includes a 15% tariff on most EU goods, halving the 30% rate previously threatened, and includes exemptions for certain goods. However, analysts and European officials have criticized it as "unbalanced" and "asymmetric", as it still represents a substantial increase in U.S. tariffs on EU imports. The deal also does not address key U.S. priorities such as EU agricultural standards and tech regulations, leaving uncertainty about its long-term effects.
28-07-2025
President Donald Trump's latest deal with the European Union could reshape global trade, according to CNN's Jeff Zeleny. Zeleny breaks down what Trump hopes to signal with the EU trade deal, analyzing its potential implications for global trade.
28-07-2025
President Donald Trump secured a significant trade deal with the European Union, averting a trade war, but his achievement was overshadowed by intensifying scrutiny over his ties to convicted sex trafficker Jeffrey Epstein. The deal includes a 15% tariff on EU goods entering the US and a commitment by the EU to buy $880 billion in US energy. Trump hailed the deal as a major win, but critics warn it will lead to higher prices for American consumers. Meanwhile, Trump's administration is facing renewed questions about his past friendship with Epstein and potential politicization of justice, particularly after Deputy Attorney General Todd Blanche met with Epstein's accomplice, Ghislaine Maxwell, sparking speculation about a possible presidential pardon.
28-07-2025
The US and EU have reached a trade deal that averts a potentially damaging trade war, but the agreement has received a lukewarm response. The deal sets a 15% tariff on most European goods entering the US, higher than the previous average tariff of 1.2%. While it avoids the worst-case scenario, the agreement's details are vague, and many are critical of its terms. The EU will increase its investment in the US by $600 billion and commit to buying $750 billion worth of US energy products, and some tariffs will be eliminated on certain items. However, the 15% baseline tariff will raise prices for European goods in the US, and the deal does little to address non-tariff barriers. Markets reacted positively, with Dow futures rising 0.3%, but experts are divided on the agreement's merits.
28-07-2025
The US and EU have reached a trade deal, announced by President Donald Trump after talks with European Commission chief Ursula von der Leyen. The deal includes $600bn of EU investments in the US and the EU will buy $750bn of US energy and American military equipment. The US will impose a 15% tariff on most EU goods, with a 50% tariff on steel and aluminium. Trump called it the "biggest deal ever made", saying it will be "great for cars" and have a "big impact" on agriculture. Von der Leyen described it as a "huge deal" that will bring stability and predictability for businesses.
28-07-2025
Top US officials, led by Treasury Secretary Steven Mnuchin (though the text says Scott Bessent, it is likely referring to Mnuchin, a known figure) and US Trade Representative, will meet with Chinese counterparts in Stockholm to discuss extending a truce on tariffs and negotiating new trade terms. The truce, set to end on August 12, has paused tariffs on each other's products. The talks aim to settle issues including China's purchases of US goods, US concerns over fentanyl imports, and US technology controls. US officials are also considering a trip to Beijing for a potential meeting between President Trump and Xi Jinping. The discussions may also cover the transfer of TikTok ownership to US firms, according to Commerce Secretary Howard Lutnick.
28-07-2025
This week is crucial for market watchers with several significant events, including earnings reports from Meta Platforms, Microsoft, Amazon, and Apple, the U.S. Federal Reserve's rate-setting committee meeting, and the release of the personal consumption expenditures price index and U.S. jobs data for July. Additionally, U.S. President Donald Trump's August 1 deadline for new tariffs looms. Trump announced a trade agreement with the European Union, with a 15% tariff on most European goods exported to the U.S. and a $750 billion purchase of U.S. energy by the EU. Samsung also signed a $16.5 billion contract with Tesla. The S&P 500 had five consecutive record closes last week. Trump's comments suggested the Fed is ready to lower rates, although futures markets disagree. Analysts also identified potential winners from Hong Kong's new crypto framework.
28-07-2025
U.S. equity futures rose ahead of a key week with major earnings reports, a Federal Reserve policy decision, and important inflation and jobs numbers. Futures for the Dow, S&P 500, and Nasdaq 100 increased by 0.38%, 0.41%, and 0.55% respectively. The gains followed a trade deal with the EU, with 15% tariffs on most goods, announced by Trump, and a strong earnings season so far. Over 150 S&P 500 companies are set to release earnings, including tech giants like Amazon and Apple. The Fed is anticipated to maintain current interest rates, and investors will be watching for clues on a potential rate cut in September. Key economic indicators to watch this week are the June PCE inflation report, jobs data, and the July jobs report.
