European Union, Trump and punishing tariffs
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US and EU 'making progress' on trade deal
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One of the European Union’s most reliable punching bags is shaped like a bottle of whiskey. The EU this week circulated to member states a list of products it could hit with tariffs if a trade deal is
U.S. President Donald Trump's tariffs threaten the American economy at least as much the European one, German Finance Minister Lars Klingbeil said on Wednesday, calling for a "fair deal" with the Americans.
After European Union leaders said they would keep negotiating instead of immediately retaliating against President Trump’s latest threat, businesses remain unable to develop long-term plans.
Trump tariffs live updates: Trump announces deal with Indonesia, EU releases list of counter-tariffs
President Trump announced his team struck a trade deal with Indonesia on Tuesday that will see goods from the country face a 19% tariff. The announcement comes after Trump unveiled a new batch of letters to over 20 trade partners outlining tariffs on goods imported from their countries beginning in August.
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The European Commission is targeting 72 billion euros ($84.1 billion) worth of U.S. goods - from Boeing aircraft and bourbon whiskey to cars - for possible tariffs if trade talks with Washington fail.
Futures data from IG suggests regional markets will start the week flat to lower, with London's FTSE 100 unchanged and both France's CAC 40 and Germany's DAX expected to open 0.2% lower. Italy's FTSE MIB is seen opening 0.35% higher.