US Edition
European shares rise on US-Japan trade deal, EU talks in focus
JAPAN, JUL 23 – Japanese shares jumped 3.7% after the US cut auto tariffs from 25% to 15%, boosting European markets ahead of critical EU-US trade talks before the August 1 deadline.
- On Wednesday, European stock futures rose on revived EU-US deal hopes, supported by the trade agreement between the United States and Japan.
- On Tuesday, US President Donald Trump said a trade deal with Japan includes a lower-than-threatened 15 per cent auto tariff, following a 19 per cent tariff deal with the Philippines.
- South Korean automakers rallied on optimism over US-South Korea tariff talks, while spot gold dropped 0.3% to $3,421.15 per ounce.
- Charu Chanana called the US-Japan trade deal `a mild upside surprise`, while gains were concentrated in automotive stocks on hopes for EU concessions.
- Meanwhile, the first tranche of retaliatory tariffs on €21 billion of US imports remains on hold until August 6, while EU negotiators seek a compromise before the August 1 deadline.
22 Articles
22 Articles
The hope of a tariff agreement between the US and the EU has been given new food after the agreement with Japan. In the DAX, the export-strong car shares are benefiting above all.
Bessent Hails Financing Pitch in Japan Deal as EU Talks Loom
Two of President Donald Trump’s top trade negotiators hailed their approach toward addressing trade grievances with Japan as a possible incentive for the European Union, as negotiations come to a head before an Aug. 1 deadline.
The American President praises himself for an agreement with Japan. Some are propaganda and two lessons can be drawn.
US President Donald Trump has shifted his focus to the EU after the tariff deal with Japan. “Europe is coming in tomorrow, and the next day we have some others coming in,” he says.
European shares rise on US-Japan trade deal, EU talks in focus
LONDON: European shares climbed more than 1 per cent on Wednesday, led by automobile stocks, after US President Donald Trump revived hopes for a trade deal with the European Union following an agreement with Japan. © New Straits Times Press (M) Bhd
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