The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy. President Donald Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn’t disclose the full details of the pact or release any written materials. The 15% rates will take effect Aug. 1, according to a US official.
Von der Leyen and Trump also differed on some of the key terms of the deal they announced. The US president said the tariff level would apply to “automobiles and everything else,” but not pharmaceuticals and metals.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson, Kriti Gupta and Valerie Tytel.
Chapters:
00:00:00 – The Opening Trade
00:01:33 – Trump: ‘Biggest Deal Ever’
00:02:47 – US-EU Tariff Deal
00:07:23 – Tariffs: China, US Meet Stockholm
00:11:51 – Thailand, Cambodia Talks
00:12:15 – Boeing Defense Hub Strike
00:12:44 – Samsung, Tesla Chips Deal
00:14:03 – England Wins Euros Over Spain
00:14:56 – Heineken CEO Dolf van den Brink
00:25:10 – Von der Leyen: Trade Deal ‘Will Bring Stability’
00:28:40 – Keir Starmer to Discuss Gaza With Trump
00:42:38 – Peak Tariff Optimism is Market Worry: MLIV
00:46:45 – Stocks to Watch: Pharma, Autos, Heineken
01:00:26 – Heineken Stock Falls
01:07:03 – Stock Earnings This Week
01:08:08 – Pharma Stocks Rise
01:13:58 – Euro-USD, Fx Rates
01:20:33 – China, US Trade Talks
01:28:46 – Gold Price
01:33:00 – Bond Yields Rise Sharply
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