Discuss the winds of change in the market, as the stock exchange reacts to the Trump administration's tariff threat against the European Union and Mexico. Skip to main content

Iran War Updates: Trump Meets With Cabinet Over Whether to Intensify Iran Strikes - The New York Times

Iran War Updates: Trump Meets With Cabinet Over Whether to Intensify Iran Strikes The recent escalation of tensions between the United States and Iran has sparked a heated debate about the potential consequences of military action. With the Trump administration considering intensifying strikes against Iranian targets, the international community is holding its breath, waiting to see how the situation will unfold. The meeting between President Trump and his cabinet members is a critical step in determining the course of action, and the outcome could have far-reaching implications for global stability and security. Introduction to the Conflict The conflict between the United States and Iran has been simmering for decades, with periods of heightened tensions and relative calm. However, the recent drone strike that killed top Iranian military commander Qasem Soleimani marked a significant turning point in the relationship between the two nations. The attack sparked outrage in Iran, wit...

Discuss the winds of change in the market, as the stock exchange reacts to the Trump administration's tariff threat against the European Union and Mexico.


The major European indices suffered heavy losses on Monday as EU ministers met to discuss their reaction to Trump’s alliance to start levying a 30% tariff against the bloc’s goods from August 1.

Germany’s DAX was down almost 0.9 percent by 08:30 GMT, while the CAC 40, IBEX 35, and FTSE MIB were down from 0.7 to 0.8 percent.

The STOXX 600 index declined about 0.5 percent.

UK’s FTSE 100 would try to hold the rally, up by 0.2 percent.

Asia markets remained broadly tentative with Japan’s Nikkei 225 retreating by about 0.3 percent while the Hang Seng dipped by the same amount.

Off-hours US futures fell early Monday, with those for the S&P 500 and the Nasdaq Composite index plunging by over half a percent.

Markets are jittery with the August 1 deadline looming for US trade partners to strike trade deals with the other side.

No agreements have been announced by the Trump administration aside from the UK, China, and Vietnam, despite the long negotiations.

If Brussels and Washington cannot agree, EU officials threatened to impose retaliatory tariffs on US goods worth approximately 100 billion euros ($117bn).

In 2024, the EU was the largest trading partner of the US, with bilateral trade in goods and services amounting to 1.7 trillion euros ($2 trillion), according to the EU statistics agency Eurostat. 

On Sunday, European Commission President Ursula von der Leyen announced that the bloc would now push back the imposition of retaliatory tariffs on the US to August to give more time for officials to try and wrangle an agreement with the Trump administration.

"We've always stated clearly that we want to have a negotiated solution," said von der Leyen.


SOURCE : NEWS AGENCIES

Popular posts from this blog

Steel and aluminum tariffs on appliances, railcars, EV parts raised by US.

On  Tuesday, the U.S. Commerce Department raised steel and aluminum tariffs on more than 400 products, including wind turbines, mobile cranes, appliances, bulldozers, railcars, motorcycles, marine engines, furniture, and hundreds more. The department added 407 product categories to the list of “derivative” steel and aluminum products covered by sectoral tariffs, which apply a 50% tariff on steel and aluminum content and the country rate on non-steel and non-aluminum content. In a research note, Evercore ISI estimated the move will raise the effective tariff rate by 1 percentage point for more than 400 product codes representing over $200 billion in imports last year. The department is also adding imported parts for automotive exhaust systems and electrical steel for electric vehicles, buses, air conditioners, refrigerators, freezers, and dryers to the new tariffs. The department was advised not to add the parts by foreign automakers, who said the U.S. cannot meet demand. Tesla crea...
Read more

UK-India Free Trade and Investment Agreement Signed in Modi's Presence.

The United Kingdom and India have signed a trade agreement aimed at reducing tariffs on goods ranging from textiles to whisky, cars, and spices, and to provide businesses with increased market access. Terming the agreement a "landmark moment" for both countries, Starmer hosted Indian Prime Minister Narendra Modi for talks at Chequers, the country estate northwest of London, where UK and Indian trade ministers Jonathan Reynolds and Piyush Goyal formally signed the trade agreement. In May, Starmer and Modi announced that they had reached a free trade agreement after three years of stop-start negotiations, with both sides rushing to seal an agreement in the wake of the tariff turmoil unleashed by United States President Donald Trump. The deal now has to be ratified by the UK Parliament. "This is not the extent or the limit of our collaboration with India," Starmer said. "We have unique bonds of history, of family, and of culture, and we want to strengthen our rela...
Read more