As the 90-day pause on US tariff increases for European imports nears its end, markets are paying more attention to the issue, while other factors take a back seat, Bloomberg reports.
The news agency shares the perspectives of European officials on the matter. The parties continue to negotiate, but if the United States introduces additional duties against the European Union, the region is likely to take retaliatory measures. This opinion was expressed by French politician Stephane Sejourne in an interview with Bloomberg News.
Sejourne emphasized that Europe will not accept the unequal agreement proposed by Donald Trump. Potential EU restrictions on US goods will help the bloc restore balance in a number of key economic sectors. The negotiating committee is currently working to secure mutually beneficial trade terms for both sides, the official said.
However, market participants surveyed by Bloomberg are uncertain whether Europe will be able to avoid the 10% tariffs imposed by the US government on steel, aluminum, and automobile imports. They believe that the most favorable outcome of the negotiations would be an extension of the current tariff pause.