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EU sees new US trade demands undercutting deal struck by Trump - Bloomberg
World FX news
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EU sees new US trade demands undercutting deal struck by Trump - Bloomberg
New
2025.10.08 18:20
2025.10.08 18:20
2025.10.08 18:20
Citing people familiar with the matter, Bloomberg reported on Wednesday that European Union (EU) officials face new United States (US) demands for concessions, which could undermine a recent trade agreement struck by US President Donald Trump.
"EU officials view the requests as maximalist and the concessions as significant," some of the people said.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.10.08
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EUR/GBP holds near one-month low as French political turmoil caps Euro's recovery
The Euro (EUR) holds steady against the British Pound (GBP) on Wednesday, attempting to stabilize after sliding earlier in the day. At the time of writing, the EUR/GBP cross is trading around 0.8665, hovering near its weakest level since September 16.
New
2025.10.08 22:58EUR/JPY rises near 178.00 supported by Yen weakness and French political talks
EUR/JPY extends its rally for the fourth consecutive session on Wednesday, trading around 177.50 at the time of writing, up 0.20% for the day, after reaching a new record high of 177.86.
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2025.10.08 22:53Fed Minutes to shed light on rate cut path amid ongoing government shutdown
The Minutes of the United States (US) Federal Reserve's (Fed) September 16-17 monetary policy meeting will be published on Wednesday at 18:00 GMT.
New
2025.10.08 22:15Gold's record run stretches further above $4,000, traders eye Fed Meeting Minutes
Gold (XAU/USD) marks another milestone on Wednesday, smashing through the $4,000 level for the first time as investors flock to the precious metal amid global economic and political uncertainty, coupled with a dovish Federal Reserve (Fed) outlook.
New
2025.10.08 21:34USD/CNH is likely to edge higher - UOB Group
US Dollar (USD) is likely to edge higher, potentially breaking above 7.1550. In the longer run, the price action suggests that USD could rise toward 7.1650, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.10.08 21:18USD/JPY: Further USD strength is likely - UOB Group
Impulsive momentum is likely to outweigh overbought conditions, but it remains to be seen if US Dollar (USD) can break above 153.00. In the longer run, further USD strength is likely; the level to watch is 153.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.10.08 21:15NZD/USD: Next support at 0.5690 is unlikely to come into view - UOB Group
Scope for New Zealand Dollar (NZD) to test 0.5720; the next support at 0.5690 is unlikely to come into view. In the longer run, outlook for NZD has shifted to negative; the level to watch is 0.5690, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.10.08 21:13EUR trading defensively on weaker German IP - Scotiabank
The Euro (EUR) is soft, down 0.3% against the US Dollar (USD) on the back of a weaker than expected industrial production release from Germany, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.10.08 21:03AUD/USD: Likely to head lower and test the 0.6555 support level - UOB Group
Increasing downward momentum suggests Australian Dollar (AUD) is likely to head lower and test the 0.6555 support level. In the longer run, the odds of AUD breaking below 0.6555 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.10.08 20:59CAD flat and outperforming on crosses - Scotiabank
The Canadian Dollar (CAD) is trading flat from Tuesday's close and extending its recent consolidation around a cluster of key technical levels, a relative performer against all of the G10 currencies in an environment of broad-based US Dollar (USD) strength, Scotiabank's Chief FX Strategists Shaun Os
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2025.10.08 20:56Disclaimer:
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