Europe: It’s geopolitics all the way – Danske Bank
EU leaders are in Bulgaria to extend their links with partners during the EU-Western Balkans summit and the EU leaders also discussed the Iran nuclear deal, agreeing unanimously that the EU will stay in the agreement as long as Iran remains fully committed to it.
Key Quotes
“The trade with the US was also discussed. Today, the European Commission is expected to introduce a blocking statute to protect European companies doing business with Iran from the possible US sanctions. Previously, the US Treasury Department announced that companies doing business in Iran will have 90 to 180 days to cease their active contracts before facing US penalties.”
“The EU also promised to suspend trade negotiations with the US until the EU members receive total exemption from steel and aluminium tariffs by the US.”
“US stocks slid and the USD strengthened as US President Donald Trump said yesterday that he doubts the US and China could agree over their foreign trade. The world's two biggest economies have restarted negotiations over trade tariffs in Washington. Trump called China and the EU 'very spoiled'. The negotiations are continuing today.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
