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U.S. President Donald Trump speaks to the media during a circuit of the Federal Reserve Board building, which is presently undergoing renovations, successful Washington, D.C., U.S., July 24, 2025.
Kent Nishimura | Reuters
I deliberation astir would hold that the quality rhythm has been relentless for astir of 2025, but definite stories bash look a small "Groundhog Day" astatine the moment.
Earlier this month, I wrote astir the conundrum facing the newsroom implicit however to attack President Donald Trump's then-trade speech deadline of July 9. Now, astatine the extremity of the month, we find ourselves successful a akin position, but this clip the day we are each watching is August 1.
Why? Once again, it's different deadline for countries crossed the globe to effort and hold a commercialized truce with the United States, with the European Union successful peculiar absorption this clip round.
Debate successful the newsroom resurfaces … erstwhile is simply a deadline not a deadline?
The week has go adjacent trickier to predict, with talks betwixt the U.S. and China present taking halfway signifier successful Stockholm connected Monday and Tuesday — perchance further complicating the representation for Europe.
A U.S. commercialized statement with the European Union has seemed tantalizingly close, with CNBC's Silvia Amaro reporting that a 15% baseline tariff complaint is the base-case scenario, according to an EU diplomat. These reports drove banal markets crossed Europe and the U.S. higher past week.
On Friday, however, Trump told reporters determination was lone a "50-50 chance" of a deal.
As CNBC's Holly Ellyatt explains, the EU is keeping its alleged "trade bazooka" — oregon Anti Coercion Instrument — lukewarm successful lawsuit an statement is not reached by the August deadline.
Earnings, maturation and inflation
The firm satellite is crying retired for an agreement, piling unit connected the European Union to enactment an extremity to the uncertainty. Puma, VW, Michelin and different corporates crossed Europe person downgraded their outlooks citing the interaction of tariffs and the ongoing unit the restrictions are putting connected these businesses.
Puma shares
This week, each eyes volition beryllium connected different raft of net from Europe, including banking giants UBS, Santander and Standard Chartered, drinks steadfast Heineken, pharma elephantine AstraZeneca and vigor large Shell to sanction a few.
On the information front, GDP maturation rates for France, Spain, Germany and Italy volition beryllium released connected Wednesday, providing penetration into the wider interaction of the marketplace uncertainty.
Last week, the tricky economical conditions saw the European Central Bank opt for a hawkish clasp of the benchmark complaint astatine 2%, with President Christine Lagarde saying the ECB is "in a bully spot to clasp and ticker however risks make implicit the adjacent fewer months."
And truthful Friday August 1st volition beryllium a important day for marketplace participants and corporates (and the newsroom)… until it isn't.
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