The European Union is facing increased pressure to avoid the new 30% tariffs that President Trump will impose from August 1. Brussels has developed a four-point strategy, including compromise offers, such as cutting EU tariffs on American cars in exchange for lower US tariffs. The impact of existing tariffs is being felt in the profits of European companies like Volvo Cars. Negotiations continue, but trade risks are growing and an escalation of the conflict is becoming increasingly imminent.
Sources
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