Summary
The European Parliament plans to pause approving a new US tariffs deal agreed in July. This decision might increase tensions between the US and Europe, especially after recent US tariff threats related to President Trump's interest in Greenland. The uncertainty has affected stock and currency markets.
Key Facts
- The European Parliament will suspend the approval of a US tariffs deal.
- The suspension aims to be announced in Strasbourg, France.
- President Trump recently threatened new tariffs due to his interest in acquiring Greenland.
- Financial markets reacted negatively, with declines in US and European shares.
- The US dollar fell, while the euro and British pound gained value.
- The July deal intended to reduce US tariffs on European goods from 30% to 15%.
- The European Parliament's approval is necessary for the deal to become official.
- EU plans to retaliate with tariffs on American goods are on hold but could resume soon.
