Trump’s tariff deal offers scant relief for Japan automakers
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The euro edged higher on Monday after news of a framework trade pact stuck between the United States and the European Union, the latest in a flurry of deals to avert a global trade war, while central bank meetings in the US and Japan also come into focus.
President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.
The announcement came after European Commission President Ursula von der Leyen travelled to Scotland for talks with U.S. President Donald Trump to push a hard-fought deal over the line.
The deal, which includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies though many in Europe will see it as a poor outcome.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
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The euro rose on Monday following a framework trade deal reached over the weekend between the United States and the European Union.
Global stocks rose and the euro firmed on Monday after a tradeagreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan.
US President Donald Trump and EU chief Ursula von der Leyen shake on it after "tough negotiations" in Scotland.