Sabine Weyand, the European Commission's new Director-General of Trade, crossed the wires in the last minutes noting that there was not much movement thus far on trade talks with the United States to reduce industrial tariffs. "We need to build trust by making progress in areas where we agree," Weyand said during the event hosted by the Center for Strategic and International Studies think tank in Washington, per Reuters.
Regarding potential tariffs on European cars, "EU would be forced to respond to U.S. tariffs on cars," Weyand noted. "Tit-for-tat tariffs would result in a lose-lose situation."
There was no apparent market reaction to this comment and the Euro Stoxx 50 index was up 0.25% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.