US businesses have urged the Trump administration to intervene over new EU consumer protection rules that they fear will leave them open to an avalanche of class action lawsuits, FT reports

US businesses are expressing significant concern over new EU consumer protection rules, suggesting a potential clash between US economic interests and EU regulatory frameworks. If the Trump administration intervenes, it could lead to further tensions in US-EU relations, which may impact market sentiment across equities and forex, particularly for USD and EUR.

This situation could be particularly relevant for sectors exposed to European markets, as ongoing uncertainty may lead to defensive positioning.