US & EU Strike Last-Minute Trade Deal—Just Days Before Deadline
Washington and Brussels pull off a high-stakes Hail Mary as the clock ticks down.
Behind closed doors: How two economic giants avoided a messy breakup.
The fine print—because we know you won’t read the 300-page PDF anyway.
Bonus cynicism: Traders immediately priced in 3x more volatility than the deal actually warrants. Some things never change.
It’s a busy day for the president, and not just because of tariffs. He’s currently in Scotland meeting with British Prime Minister Keir Starmer.
The two are discussing trade and the humanitarian crisis in Gaza, per the White House. Trump told reporters Monday morning that the US will offer aid to Gaza, saying there is “real starvation” in the region.
And let’s not forget about China. Officials have a little longer to ink a deal, but not much. Higher tariffs on both Chinese and American goods will go into effect on Aug. 12.
Chinese and American officials are meeting in Sweden today to discuss how to proceed. More on that (and future trade developments) later this week.
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