EU and US agree trade deal
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AFP on MSNImpact of US tariffs varies across European Union
US President Donald Trump announced on Sunday that the United States was imposing 15-percent tariffs on all European Union countries.
Higher tariffs, or import taxes, on European goods mean sellers in the U.S. would have to either increase prices for consumers — risking loss of market share — or swallow the added cost in terms of lower profits. The higher tariffs are expected to hurt export earnings for European firms and slow the economy.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
European stocks trimmed early gains as optimism around a US trade deal was replaced by lingering concerns that higher levies would crimp earnings.Most Read from BloombergThe High Costs of Trump’s ‘Big Beautiful’ New Car Loan DeductionCan This Bridge Ease the Troubled US-Canadian Relationship?
Alicante’s export sector is already feeling the strain from the latest trade deal between the European Union and the United States
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took