US President Trump says a promise was made that the EU would deliver their side of the deal and, as per agreement, cut their tariffs to zero; however, the EU has until the July 4th, or tariffs would immediately jump to higher levels
Full post: I had a great call with The President of the European Commission, Ursula von der Leyen. We discussed many topics, including that we are completely united that Iran can never have a Nuclear Weapon. We agreed that a regime that kills its own people cannot control a bomb that can kill millions. I’ve been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever! A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO! I agreed to give her until our Country’s 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels. Thank you for your attention to this matter. President DONALD J. TRUMP
President Trump's warning regarding EU tariffs highlights potential trade tensions, which could influence market sentiment across various asset classes. If the EU fails to meet the July 4th deadline for tariff reductions, markets might react negatively, particularly impacting risk assets and currencies like the USD and EUR as uncertainty rises. This situation underscores the fragility of international trade agreements and could lead to heightened volatility in commodities and equities in the near term.