Europe sees momentum in US trade talks, but businesses remain uneasy
The post Europe sees momentum in US trade talks, but businesses remain uneasy appeared on BitcoinEthereumNews.com. According to Reuters, the European Union said on Monday that trade discussions with the United States had been given “new impetus” after US President Donald Trump dropped his threat to impose 50% tariffs on EU imports starting June 1. The White House instead agreed to extend the deadline until July 9, following what Trump described as a “very nice call” with Ursula von der Leyen, head of the European Commission. Markets quickly responded. The euro rose to its highest point since late April, while European stocks recovered from Friday’s dip. But on the ground in Europe, companies aren’t rushing to celebrate. The sudden shift, which came less than 48 hours after Trump called EU trade negotiations “nowhere,” is the latest twist in a standoff that has left many businesses confused about what to expect next. “They agreed both to fast track the trade negotiations and to stay in close contact,” a spokesperson for the Commission said after Sunday’s phone call. Trade reps from both sides were scheduled to meet again on Monday, but no outcomes were expected immediately. “There’s now also a new impetus for the negotiations, and we will take it from there,” the spokesperson added. Trump’s tariff threats still hang over businesses On Friday, Trump announced that 50% duties were on the table, accusing the EU of being too difficult. Then, by Sunday, after the call with Ursula, he said, “I agreed to move it. She said we will rapidly get together and see if we can work something out.” Ursula confirmed it on X, saying she had a “good call” and that Europe was “ready to advance talks swiftly and decisively.” But what’s changed, exactly? Nothing concrete. The underlying disagreement hasn’t gone anywhere. Michael Pfister, a currency strategist at Commerzbank, pointed out that the EU may very…
The post Europe sees momentum in US trade talks, but businesses remain uneasy appeared on BitcoinEthereumNews.com.
According to Reuters, the European Union said on Monday that trade discussions with the United States had been given “new impetus” after US President Donald Trump dropped his threat to impose 50% tariffs on EU imports starting June 1. The White House instead agreed to extend the deadline until July 9, following what Trump described as a “very nice call” with Ursula von der Leyen, head of the European Commission. Markets quickly responded. The euro rose to its highest point since late April, while European stocks recovered from Friday’s dip. But on the ground in Europe, companies aren’t rushing to celebrate. The sudden shift, which came less than 48 hours after Trump called EU trade negotiations “nowhere,” is the latest twist in a standoff that has left many businesses confused about what to expect next. “They agreed both to fast track the trade negotiations and to stay in close contact,” a spokesperson for the Commission said after Sunday’s phone call. Trade reps from both sides were scheduled to meet again on Monday, but no outcomes were expected immediately. “There’s now also a new impetus for the negotiations, and we will take it from there,” the spokesperson added. Trump’s tariff threats still hang over businesses On Friday, Trump announced that 50% duties were on the table, accusing the EU of being too difficult. Then, by Sunday, after the call with Ursula, he said, “I agreed to move it. She said we will rapidly get together and see if we can work something out.” Ursula confirmed it on X, saying she had a “good call” and that Europe was “ready to advance talks swiftly and decisively.” But what’s changed, exactly? Nothing concrete. The underlying disagreement hasn’t gone anywhere. Michael Pfister, a currency strategist at Commerzbank, pointed out that the EU may very…
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