US-EU trade deal sets a 15% tariff on most goods
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Top U.S. and Chinese economic officials met in Stockholm on Monday to resume talks to resolve longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months.
Companies reporting today include Enterprise Products Partners ( EPD) and Waste Management ( WM ). See the full earnings calendar on Seeking Alpha, as well as today's economic calendar.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
European Union wine and spirits producers could emerge among the few winners of a EU-U.S. trade deal agreed at the weekend that some European officials consider unbalanced.
The Federal Reserve is slated to announce its latest interest-rate decision, and investors will scour the July jobs report. Earnings season marches on, with four of the “Magnificent Seven” names headlining a packed schedule.
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Analysts said negotiators meeting in Stockholm were likely to agree to another 90-day pause on tariffs and export controls, avoiding further escalation.
President Donald Trump said he’s considering paying rebates to U.S. taxpayers with revenue generated from billions of dollars coming from tariffs on imports from foreign countries.
Gold prices steadied on Monday, with gains curbed by improved risk sentiment following a trade deal between the United States and the European Union, while investors looked forward to the U.S. Federal Reserve's policy meeting later this week.