A report from Bloomberg was out about an hour ago and highlights the state of play between the US and Europe in the tariff war, citing sources:
EU officials expect 10-25% tariff rate on all or most goodsEuropean Union is identifying concessions it’s willing to make in a term sheetThey were told there is no way to avoid tariffs next weekAreas for negotiations on the punitive trade measures, including lowering its own duties, mutual investments with the US as well as easing certain regulations and standardsNon-tariff issues such as the VAT, digital taxes and several EU regulations and food standards featured prominently during the talks in WashingtonThe EU may be eyeing US services imports in retaliationSpeaking of services tariffs, this is a good point.
The US dollar is broadly lower today and that's helped to life the euro by 29 pips.
This article was written by Adam Button at www.forexlive.com. Read More Details
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