Trump: No Deadline for China Deal | EU Prepared to Retaliate Against US Tariffs on France
Published December 3, 2019
President Trump put a damper on a quick resolution to the US and China trade dispute. Trump stated a deal with China would only happen if he wanted it to, and he thought he was doing very well in the talks.
Staying on trade, the US government said it may impose tariffs up to 100 percent on $2.4 billion worth of imports from France. The tariff threat comes after the US found that France’s new digital services tax would damage US tech companies. In response, the European Commission stated the EU will come together in retaliation against any tariffs on French goods. This, along with PPI data showing sinking energy prices in the Eurozone, is weighing on the euro heading into the New York session.
The British pound is at its highest level in 6 weeks after the latest election polls showed the Conservative Party widened its lead ahead of next week’s election. The polls are pointing to a majority win by a landslide, but the market is still wary of the possibility for a surprise upset given the unreliability of these polls in the past.