In response to rumors that US President Donald Trump is advocating for additional tariffs on the European Union, the Dow Jones Industrial Average fell on Friday, July 18. The 30-stock index dropped 0.3%, or 142 points. After reaching a record high earlier in the day, the S&P 500 fell 0.01%, while the Nasdaq Composite increased 0.05%.
The Financial Times reports that Trump is demanding a minimum tariff of 15% to 20% in any trade deal with the EU. Before Trump’s deadline of August 1, when he has threatened to levy 30% tariffs on European exports, the group is trying to finalize an agreement.
Following reports that President Donald Trump pressed for more tariffs on the European Union, the Dow Jones Industrial Average fell on Friday. The Dow’s 30-stock index dropped 0.3%, or 142 points. The Nasdaq Composite gained 0.05%, while the S&P 500, which had earlier in the day reached a record high, fell 0.01%.
According to the Financial Times, which cited three persons briefed on the negotiations, Trump is insisting on a baseline tariff of 15% to 20% in any agreement with the EU. Before Trump’s deadline of August 1st, when he has promised to start imposing 30% tariffs on the group, the EU is trying to come to an agreement with the United States on trade.
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