Europeans, Not Trump, Ended Up Chickening Out
Many will agree with her. The US is the EU's biggest trade partner and a dominant defense and technology supplier – a spiral of tit-for-tat tariffs is something Europeans simply can't afford, as LVMH Moet Hennessy Louis Vuitton SE boss Bernard Arnault said last week. Sealing the deal before the Aug. 1 deadline at a level big companies say they find 'manageable' is market positive, lifting the tariff fog and avoiding a worst-case scenario drag on euro zone gross domestic product of 1.2%, according to Barclays Plc. From German autos to French aerospace, transatlantic trade is looking a little less stuck.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
2 minutes ago
- Associated Press
Alaska Sen. Murkowski toys with bid for governor, defends vote supporting Trump's tax breaks package
JUNEAU, Alaska (AP) — Republican U.S. Sen. Lisa Murkowski, speaking with Alaska reporters Monday, toyed with the idea of running for governor and defended her recent high-profile decision to vote in support of President Donald Trump's tax breaks and spending cuts bill. Murkowski, speaking from Anchorage, said 'sure' when asked if she has considered or is considering a run for governor. She later said her response was 'a little bit flippant' because she gets asked that question so often. 'Would I love to come home? I have to tell you, of course I would love to come home,' she said. 'I am not making any decisions about anything, because my responsibility to Alaskans is my job in the Senate right now.' Several Republicans already have announced plans to run in next year's governor's race, including Lt. Gov. Nancy Dahlstrom. Republican Gov. Mike Dunleavy is not eligible to seek a third consecutive term. Alaska has an open primary system and ranked choice voting in general elections. Murkowski is not up for reelection until 2028. A centrist, Murkowski has become a closely watched figure in a sharply divided Congress. She has at times been at odds with her party in her criticism of Trump and blasted by some GOP voters as a 'Republican in name only.' But her decision to support Trump's signature bill last month also frustrated others in a state where independents comprise the largest number of registered voters. She previously described her decision-making process around the bill as 'agonizing.' On Monday, she said it was clear to her the bill was not only a priority of Trump's but also that it was going to pass, so it became important to her to help make it as advantageous to the state as she could. 'So I did everything within my power — as one lawmaker from Alaska — to try to make sure that the most vulnerable in our state would not be negatively impacted,' she said. 'And I had a hard choice to make, and I think I made the right choice for Alaskans.'
CNBC
3 minutes ago
- CNBC
CNBC Media Alert: President Donald Trump to Speak with CNBC's 'Squawk Box' Live Tomorrow at 8am ET
WHEN: Tomorrow, Tuesday, August 5, 2025 WHERE: CNBC's "Squawk Box" President Donald Trump will speak with CNBC's "Squawk Box" (M-F, 6AM-9AM ET) for a live interview tomorrow, Tuesday, August 5 at 8AM ET to discuss the economy, jobs, the Fed, tariffs, and more. Transcript to follow the interview.
CNBC
3 minutes ago
- CNBC
CNBC Daily Open: Trump doubles down on criticism of jobs report — but markets bounce back
The U.S. Bureau of Labor Statistics' July's jobs report revised previous months' figures down so dramatically that U.S. President Donald Trump called it "RIGGED" and "CONCOCTED." Markets, however, seem to have shrugged off their worries for now — U.S. stocks rebounded Monday from the sell-off on Friday after the report was released. The move, however, could be more an instinctive reflex than a reflection of what's really driving markets. "Today is sort of a bounce-back day," said Sam Stovall, chief investment strategist at CFRA Research. "Stocks tend to pop after a drop, so that's what's happening." "We have to wait and see what happens tomorrow, because there could be a possibility that investors think, 'You know what, we really need to take some money off the table to digest some of these gains,'" he added. Trump's new tariffs come into force on Aug. 7, so there's a possibility investors could seize this opportunity, when markets have recovered slightly from Friday's losses, to take profit first — and before any further slowdown, as suggested by July's jobs report, is potentially "rigged" and strikes the U.S. economy. The EU will suspend its planned U.S. tariffs for six months. The countermeasures, which would have taken effect on Aug. 7, were delayed to allow the bloc to "further negotiate" with the U.S. and "finalise a Joint Statement" on their trade deal. Trump will 'substantially' raise tariffs on India. The South Asian country's oil purchases from Russia — a transaction defended by India's energy minister Hardeep Singh Puri — is the cause behind Trump's threat. Stocks rebound from Friday's losses. Major U.S. indexes rose Monday, with the S&P 500 snapping a four-day losing streak. The Stoxx Europe 600 gained 0.9%. Swiss stocks pared losses after the government said it would continue U.S. negotiations. Palantir's quarterly revenue exceeds $1 billion. Wall Street had expected the software provider to hit that milestone only in the fourth quarter of the year. But a 48% year-over-year jump in second-quarter revenue helped Palantir beat forecasts. [PRO] The "Magnificent Seven" are powering earnings growth. Year on year, Mag 7 earnings have increased by 26%. The other S&P 500 companies posted a combined 4% growth — a disparity that could be problematic for investors, according to an analyst. Contentious July jobs report confirms the U.S. economy is slowing sharply. Here's why Nonfarm payrolls rose by just 73,000 in July, below even the muted expectations. Heavy downward revisions to the May and June count took the three-month average job gains down to just 35,000, or less than one-third the pace for the same period a year ago. Traditionally a lagging indicator when it comes to recessions, the weakness in job growth points to an economy that may be slowing even more than some of the traditional metrics are showing.
