Wall St moves higher after FT reports US and EU close in on tariff deal
The Dow Jones Industrial Average (.DJI), opens new tab rose 158.7 points, or 0.36%, to 44661.12. The S&P 500 (.SPX), opens new tab rose 17.3 points, or 0.27%, to 6326.9, while the Nasdaq Composite (.IXIC), opens new tab rose 73.8 points, or 0.35%, to 20966.467.
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BBC News
18 minutes ago
- BBC News
US and EU strike trade deal on tariffs after 'tough negotiations'
Update: Date: 18:37 BST Title: US-EU strike trade deal Content: US President Donald Trump has struck a trade deal with the European Union following meetings with the President of the European Commission Ursula von der Leyen. Stay with us as we bring you the details. Update: Date: 18:23 BST Title: Why are the US-EU trade ties so important? Content: Goods and services exchanged between the United States and European Union forms one of the world's largest trade relationships. They are each other's largest trade and investment partners. Total trade in goods between the EU and US totalled an estimated $975.9bn (£751.4bn) in 2024. Together, they account for almost a third of global trade in goods and services. Last year the US imported about $606bn (£451bn) in goods from the EU and exported around $370bn (£276bn). That imbalance, or trade deficit, is a sticking point for Donald Trump. He says trade relationships like this mean the US is "losing". Update: Date: 18:12 BST Title: Trump and EU chief enter crunch meeting Content: Thomas MackintoshLive reporter Welcome to our live coverage of crunch trade talks between the United States and European Union. "It is a beautiful Sunday in Scotland," Donald Trump said as he started a wide-ranging news conference inside the ballroom of his Turnberry golf resort in Scotland. Against the backdrop of the green fairways and bunkers, Trump sat next to European Commission President Ursula von der Leyen and said he "was not in a good mood". Although the US president didn't elaborate on why his spirits were low, he said there was a "50:50" chance the pair would strike a trade deal, explaining "we have three or four sticking points". "The EU has to be open to American products," Trump said at one point, while Von der Leyen added any deal would be about "fairness and rebalancing". The pair have now gone into a private meeting. Stay with us as we bring you the latest.
Sky News
18 minutes ago
- Sky News
US and EU agree trade deal, says Donald Trump
The United States and European Union have agreed a trade deal, says Donald Trump. The announcement was made as the US president met European Commission chief Ursula von der Leyen at one of his golf resorts in Scotland. Mr Trump had said the main sticking point was "fairness", citing barriers to US exports of cars and agriculture. He went into the talks demanding fairer trade with the 27-member EU and threatening steep tariffs to achieve that, while insisting the US will not go below 15% import taxes. For months, Mr Trump has threatened most of the world with large tariffs in the hope of shrinking major US trade deficits with many key trading partners, including the EU. In case there was no deal and the US had imposed 30% tariffs from 1 August, the EU has prepared counter-tariffs on €93bn (£81bn) of US goods. Ahead of their meeting on Sunday, Ms von der Leyen described Mr Trump as a "tough negotiator and dealmaker". And she had called for a rebalancing of bilateral trade worth billions of dollars between the vital partners.
Reuters
18 minutes ago
- Reuters
US, EU agree trade deal, EU will see 15% tariff across the board
TURNBERRY, Scotland, July 27 (Reuters) - U.S. President Donald Trump on Sunday said the United States and the European Union had reached agreement on a trade deal that includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment. The deal also calls for $600 billion in investments in the U.S. by the European Union, he told reporters. European Commission President Ursula von der Leyen said the agreement would include 15% tariffs across the board, saying it would help rebalance trade between the two large trading partners.
