Trump, EU announce trade deal
Digest more
14hon MSN
U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal
The euro’s fall accelerated on Monday, putting the currency on course for its steepest one-day drop against the dollar since May, as investors bet that the EU-US trade deal would hurt the European economy. The single currency was down 0.9 per cent against the dollar at $1.164 in afternoon trading, and weakened by a similar amount against the pound.
The European Central Bank held interest rates steady Thursday as policymakers waited to see whether the eurozone would be hit by higher US tariffs threatened by President Donald Trump.
Alicante’s export sector is already feeling the strain from the latest trade deal between the European Union and the United States
The framework deal, which European Commission President Ursula von der Leyen described as the best the bloc could get, will impose a 15-per-cent import tariff on most EU goods and see the EU spend US$600-billion on U.S. investments while opening up some important parts of its market.
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws.
Uncertainty has been a key theme for the dollar in 2025, and the unpredictability of the president’s stance on trade is about to reach new levels.
The chief financial officer said the impact was not representative of what the group expects for the second half, as tariffs only came into effect part way through the first half.
The European Central Bank is leaving interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’s tariffs on the economy before deciding whether to cut rates again.
Stellantis N.V. NGT-T +0.20% expects more impact from U.S. tariffs on vehicles and auto part imports in the second half of 2025, the company said on Monday as it reported a preliminary 2.3-billion-euro (US$3.6-billion) net loss for the first six months of the year.