EU expects tariffs to remain as talks make little progress, eur falls
The euro has fallen on this headline. The report said:
- After a two-hour meeting, EU trade chief Maros Sefcovic left unclear on US goals.
- US officials signaled most tariffs will stay.
The EU had proposed to the US a regime of reciprocal zero tariffs on autos and industrial goods but that evidently didn’t gain any traction with the US. That’s evidently been rejected, though the US did hint at a way forward with Europe buying more US goods.
There is also a report from earlier suggesting the US was asking for Europe to isolate China in return for lower tariffs.
In any case, the picture isn’t looking good.
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The S&P 500 has also turned negative a short time after hitting a session high of +0.8%.
