EU Preparing to Strike Back if Trump Slaps Tariffs on Foreign Cars

European Union Trade Commissioner Cecilia Malmstrom says the 28-nation bloc is preparing to retaliate against the United States if President Donald Trump imposes tariffs on foreign autos and car parts.

Trump slapped tariffs on EU steel and aluminum on June 1, which the EU responded to with duties on U.S. products, and is threatening to extend them to the automotive industry.

Malmstrom said at a Brussels news conference hosted by the German Marshall Fund the European Union is compiling “a list of rebalancing measures” If the United States imposes car tariffs.

New tariffs could hurt Europe’s large auto manufacturing and export industry, as well as consumers and manufacturers in the United States, where prices would increase.

Source : voanews

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Dow futures pull back after 5-day rally, with earnings in focus

U.S. stocks were poised for a day of mild losses on Thursday, with the Dow industrials on track to pull back from a five-day rally driven partly by optimism over the U.S. economy.

Traders appeared to be pausing for breath as they looked ahead to prominent earnings releases, including from Dow components Travelers and Microsoft, in what is shaping up to be an upbeat season.

Readings on weekly jobless claims and the Philly Fed index are on deck ahead of the open.

Futures for the Dow Jones Industrial Average fell 39 points, or 0.2%, to 25,122, while those for the S&P 500 index dropped 6.75 points, or 0.2%, to 2,809.25. Futures for the Nasdaq-100 index gave up 16 points, or 0.2%, to 7,388.50.

Source: Marketwatch

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US stocks rise again as trade worries take back seat

U.S. stocks climbed with other markets on Monday as worries about trade tensions between the United States and the rest of the world took a back seat.

The S&P 500 was up 20 points, or 0.7 per cent, at 2,780, as of noon Eastern time. It follows Friday’s 0.8 per cent gain after the government reported that U.S. job growth remains strong despite all the concerns about global trade.

The Dow Jones industrial average rose 282, or 1.2 per cent, to 24,738, and the Nasdaq composite rose 41, or 0.5 per cent, to 7,729.

The world’s two largest economies took their biggest steps yet on Friday in a brewing global trade war after the United States and China imposed dueling tariffs on each other’s goods. But a better-than-forecast U.S. jobs report on Friday and the expectation for strong earnings reports from nearly every swath of corporate America in the upcoming weeks have nevertheless helped support stocks.

Source: Associated Press

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