ING: The EU Still Has Time to Reach a Trade Agreement with the US

According to a report by Jinse Finance, as EU leaders prepare to respond to Trump's threat of imposing a 30% tariff on European imports, ING economists Carsten Brzeski and Inga Fechner wrote: "In a letter to Ursula von der Leyen last weekend, Trump stated that the tariffs would take effect on August 1. Three weeks is a long time." They noted that it is appropriate for the EU to wait until this final deadline before taking countermeasures against U.S. imports such as steel. They told investors that the current situation "still leaves significant room for negotiation." "We can only reiterate our previous view that there are no winners in a trade war, only losers." (Jinshi)