US and EU at the outskirts of Trade Agreement – but cryptomarket is falling

After months of tensions, there seems to be a movement in the trade conflict between the United States and the European Union. Both parties are about to conclude an agreement with mutual import tariffs of 15 percent.

With that, an imminent rate increase to 30 percent, as previously announced by Donald Trump, would have been gone for the time being. But how firm is this agreement really?

Scholarships respond positively to Handelsnieuws

According to insiders, certain sectors would be excluded from the new rates. This includes aircraft, medical equipment and spirits. The import tax on cars would also go down: from 27.5 to 15 percent.

The European Commission has since chatted the Member States about the state of affairs. The atmosphere is tense, but there is also cautious realism. “The deal with Japan showed exactly how the US puts pressure in these situations,” says an EU diplomat to the Financial Times. “Many countries are skeptical, but still consider agreeing.”

Scholarships cheer, cryptomarkt in the minus

The news led to recovery in the financial markets. The euro made up earlier losses and closed almost the same as the dollar. The American stock exchanges also went up: the S&P 500 closed 0.6 percent higher.

However, the cryptomarkt responds less positively. Altcoins in particular hand in firmly, with losses of up to ten percent. Investors seem to take a profit after the strong increases in recent weeks.

Threat remains in the background

Despite the provisional agreement, the situation remains uncertain. An American officer emphasized that “the situation is fluid and can change any moment”. The EU sees the agreement as an attempt to prevent escalation. Since April there has been an extra rate of 10 percent on European exports to the US, on top of the average of 4.8 percent. By including that in a 15 percent appointment, people hope to prevent further increases.

Yet Brussels keeps a counter -offensive ready. In the drawer there is a retribution package of 93 billion euros, including import duties up to 30 percent and the exclusion of American companies in European tenders.