Reaction to EU's trade agreement with Trump administration
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Asian equities were mostly higher overnight as Vietnam and Indonesia outperformed while Japan and India underperformed. Hong Kong and Mainland China were both higher overnight on high volumes as health care stocks outperformed,
President Donald Trump’s announced series of preliminary trade agreements are likely to put downward pressure on the U.S. dollar ( DXY) over time, according to Goldman Sachs.
South Korean Finance Minister Koo Yun-cheol said on Tuesday he would try to derive a mutually beneficial trade agreement with the United States, in comments ahead of his departure to Washington to meet U.
President Trump has announced a trade agreement with the European Union. CBS News' Olivia Rinaldi and Javier David have details on the deal.
President Donald Trump is meeting with United Kingdom Prime Minister Keir Starmer in Turnberry, Scotland, this morning to discuss trade. The U.S. and United Kingdom reached an agreement on tariffs in May. Yesterday, Trump announced a trade deal with the European Union that would set tariffs at 15% for U.S. imports of most European goods.
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France denounced the trade agreement between the European Union and the U.S. as a "submission" on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington.
"Economic growth in the euro zone will be affected, with estimates from international institutions showing a possible reduction in the growth rate by 0.3%-0.4%, which would mean a reduction in economic growth in Romania by 0.15%-0.2%," Concordia macroeconomist Iulian Lolea said.
The current 90-day truce between the US and China - which saw the two countries temporarily lowering tariffs on each other - is set to end on 12 August. Since Trump returned to the White House in January,