
EU pauses trade retaliation against US after Trump's 30% tariff threat

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Bloomberg
19 minutes ago
- Bloomberg
US Futures Drop as Trump Steps Up Tariff Threats: Markets Wrap
By and Paul Dobson Save US equity futures dropped on Monday following President Donald Trump's weekend declaration of a 30% tariff on goods from the European Union and Mexico effective Aug. 1. S&P 500 contracts fell 0.4% in early Asia trading. The dollar and Japanese yen edged higher against major peers while the Australian and New Zealand dollars slipped.
Yahoo
36 minutes ago
- Yahoo
Economists see lower risk of US recession
Economists are a little less gloomy about the possible fallout from US President Donald Trump's trade and economic policies than they were three months ago, according to a Wall Street Journal survey. Economists expect cooler inflation, stronger growth, and a lower risk of a recession this year, but they remain relatively downbeat, with the latest GDP growth prediction still half of what was expected in January. 'Despite numerous headwinds, the U.S. economy is proving stubbornly resilient,' one economist said, adding that 'the mood has clearly shifted from bold to careful.' The slightly more optimistic outlook comes as the US Treasury on Friday reported collecting more than $100 billion in customs duties in June. — Claire Cameron Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
43 minutes ago
- Bloomberg
Oil Extends Gain as Trump Ratchets Up Tariffs Before Russia Move
Oil rose a second day as President Donald Trump declared 30% tariffs on imports from the European Union and Mexico over the weekend, ahead of a ' major statement ' on Russia. Brent gained as much as 0.6% — after adding 2.5% on Friday — to trade near $71 a barrel while West Texas Intermediate was near $69. Trump said the rates on Mexico and the EU would start Aug. 1, dashing optimism that 11th-hour agreements could be reached in a threat to oil demand.