Bloomberg Daybreak: US Edition US and EU Reach Tariff Deal; US and China Hold Trade Talks On today's podcast:
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Jul 28, 2025 The US and EU have struck a crucial deal, lowering tariffs on most imports to 15%, easing fears of a trade war. Meanwhile, US and Chinese officials are set to negotiate further tariff reductions to maintain a truce. Wall Street is bracing for a critical week, with the Federal Reserve meeting and major tech companies like Amazon and Apple preparing to announce earnings. This week could determine market trends and economic direction for the rest of the year.
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US-EU Trade Deal Significance
- The US and EU reached a deal setting a 15% tariff on most EU imports to avoid a major trade war.
- This is a significant agreement affecting the world's biggest trading relationship, hailed as the biggest deal ever.
Key Terms of US-EU Tariff Deal
- The 15% tariff is all-inclusive, preventing extra levies on specific industries like drugs, chips, and cars.
- The EU agreed to buy $750 billion of American energy products and invest $600 billion in the U.S. as part of the deal.
US-China Trade Truce Extension
- US and Chinese officials met to extend their tariff truce beyond August 12th, aiming to maintain trade stability.
- The truce halved tariffs from 125% to 30%, and negotiations hope to extend this truce for another 90 days.