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US and EU Near 15% Tariff Deal, Dollar Weakens Amid Market Reactions
US and EU Near 15% Tariff Deal, Dollar Weakens Amid Market Reactions
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BTCCSquare news:
The United States and European Union are finalizing a 15% tariff agreement, signaling a de-escalation of trade tensions. The deal, mirroring terms of the US-Japan trade framework, would waive levies on select goods while maintaining a floor on existing duties. Brussels has pushed back against the TRUMP administration's earlier 25% proposal, securing a 10% reduction after months of negotiations.
Automotive tariffs stand to drop sharply from 27.5% to 15%, though the EU maintains contingency plans for €93bn in retaliatory measures should talks collapse before the August 1 deadline. Currency markets reacted immediately, with the dollar extending losses as traders adjusted positions.
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