European, Japan stocks surge
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Flurry of Trade Deals Offers Relief for Some Asian Countries
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The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.
The European Union and Japan will work more closely to counter economic coercion and address unfair trade practices, European Commission President Ursula von der Leyen told reporters on Wednesday.
The European Union and the United States are heading towards a trade deal that would result in a broad tariff of 15% applying to EU goods imported into the United States, two diplomats said on Wednesday.
As the Aug. 1 deadline for tariff agreements approach, lawyers and political consultants caution that trade fights are likely ahead.
(Reuters) -European shares were subdued early in the session on Monday as investors assessed a mixed bag of corporate earnings while awaiting a potential trade deal between the United States and the European Union.
Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,
The Trump administration is pressing the European Union to accept blanket tariffs in the range of 15% or more, well above the level the bloc had initially negotiated with the U.S., people familiar with the matter said.
The summit was moved from Brussels to Beijing, then reduced to one day from two. As the European Union struggles to curb China's unfair trade practices, are tougher tactics needed to cut the €400 billion trade deficit?
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