EU to Ramp up Retaliation Plans
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The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.
European shares were softer on Monday as markets awaited developments in trade talks, as well as a European Central Bank policy meeting later this week, while U.S. futures were brighter ahead of some major tech earnings.
Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.
The European Union will delay the implementation of its trade countermeasures against the United States from Monday until early August to allow more time to negotiate a deal.
The European Union has delayed the implementation of retaliatory trade tariffs against the U.S., until early August, with escalating trade tensions after Trump slapped a 30% tariff on EU and Mexico imports,
Explore the ongoing trade tensions over tariffs as the EU warns the U.S. to reach a deal or face countermeasures.