Chagrin as Trump plays three-card trick on trade
(Reuters) -Wayne Cole in Europe and global markets, take a look at the next day.
This is as open as mud. Apparently the US is now higher when August 1 is higher. tariffs If a commercial agreement is not made or does not continue, it will be applied to some countries. It is not really sure which countries cover or which countries dealt with.
“President TrumpTreasury Secretary Bessent CNN told, “ “ “ “ If you do not move something to some of our trade partners, then on August 1 will return to some of our trading partners who say that you will return to the tariff level.
“Letters” go to 10 or 12 countries today, probably the letters that should go last Friday.
Trade Secretary Howard Lotnick said to journalists, said that higher tariffs would come into force on August 1, but Trump “has now set proportions and agreements.”
It is not clear to announce the changes in trade policy in TV interviews, and now the original date of July 9 is important and unclear to whom.
For example, India and the United States report that it can make a mini -mutebat today or tomorrow, but then continues to talks after July 9th. According to BESSENT, many countries seem to not bother to communicate with the US for negotiations – and in return, they will probably get harsh letters.
Trump added that some tariffs could reach 60% or 70%, which is even higher than 50% in China, and added to the confusion. In addition, BRICS, a group in which the United States itself is in tariff negotiations, threatened an extra 10% tariff on countries aligned with “anti -American policies”.
Investors reacted with a farewell and release wall status that fell to 0.4%. Asian stock indices are often lower on Monday, but although not too much, treasury returns fall to a basic point and the dollar is close to the lowest levels of four years.
Oil became a major carrier, lost about 1% by increasing the production of OPEC+ much more than the first expected and marking a similar increase for September.
Analysts see it largely as Saudi Arabia and stuck to higher cost manufacturers to capture the market share, and under a certain pressure, low margin US Şeyl output. OPEC’s answer “drill, baby, drill”.
Basic developments that may affect markets on Monday:
* EU retail sales for May, Sentix Investor Güven Forjuly; German Industrial Output for May * ECB President Christine Lagarde and ECBBOARD Member Piero Cipollone’s participation in the Eurogroup meeting in Brussels; ECB’s Holzmann speaks
(Editing by Wayne Cole; by Christopher Cushing)
