Stellantis, Jeep and US tariffs
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The European Union still wants a trade pact with the US, but the bloc said to be readying its counterattack as President Trump plays hardball and makes a no-deal outcome more likely. EU member states are pushing for new and stringent measures to retaliate against US companies,
U.S. tariffs of 30% on European Union goods could shave up to 0.8% off Italy's gross domestic product in 2027, the country's main business lobby said on Monday, as transatlantic trade negotiations continued.
European Union officials have drawn up plans to impose levies on American imports, but questions abound about whether they would go through with them.
Tariff onslaught likely to force further rate cuts in coming months by most of the world's central banks. Read more at straitstimes.com. Read more at straitstimes.com.
The euro dipped on Monday and the dollar gained against a basket of currencies, as traders largely shrugged off new tariffs ahead of key U.S. inflation data on Tuesday.