French Government Advisory Body issues report on China, which recommends ways to neutralise competitiveness gaps; including implementation of a 30% general tariff, or a depreciation of the Euro by 20-30% vs the Renminbi
The French government's advisory body's report suggesting a potential 30% tariff and a 20-30% depreciation of the Euro against the Renminbi signals significant trade tensions that could escalate between Europe and China.
Anthropic is reportedly assembling a veteran team and considering securing at least 10GW of capacity over the next several years, according to The Information
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French Government Advisory Body issues report on China, which recommends ways to neutralise competitiveness gaps; including implementation of a 30% general tariff, or a depreciation of the Euro by 20-30% vs the Renminbi
US sells 3-month bills at a high rate of of 3.60%, B/C 2.76x; Sells 6-month bills at a high rate of 3.500%, B/C 2.76x
European Closes: Euro Stoxx 50 +1.02% at 6,059, Dax 40 +1.15% at 25,005, FTSE 100 +0.16% at 10,386, CAC 40 +0.60% at 8,323, FTSE MIB +2.06% at 46,823, IBEX 35 +1.40% at 18,195, PSI +1.13% at 8,991, SMI +0.06% at 13,521, AEX +0.37% at 999
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This could affect global supply chains and prompt reactions in currency markets, especially for the Euro and its relative strength against the USD and JPY. Markets will likely be sensitive to any diplomatic developments or retaliatory measures from China, impacting risk sentiment broadly.
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