Trump lifts global tariff rate to 15%; EU proposes freezing US trade agreement - Newsquawk EU Market Open

Contributing sentiments towards policy:

62% : Supply from the EU, Earnings from Hims & Hers. SNAPSHOT Newsquawk in 3 steps: 1.
53% : * EUR/USD reclaimed the 1.1800 status amid the softer dollar and with German Chancellor Merz anticipating the SCOTUS ruling to lower the tariff burden on the German economy, while France's Trade Minister is in talks with EU counterparts regarding US tariffs and noted the EU has tools to retaliate.
48% : German Chancellor Merz said expect the tariff burden on the German economy to be reduced following the US Supreme Court decision, while he added that they will have a very clear European position on this, as tariff policy is a matter for the EU, not individual member states, and he will go to Washington with a coordinated European position.
48% : Blizzard warnings were issued for New York and the northeast amid a powerful storm, which has already grounded over 1,000 flights, while New York City is enacting a travel ban and cancelling school classes due to the winter storm.
48% : * USD/JPY retreated beneath the 155.00 level amid the softer dollar and with a lack of support due to the absence of Japanese participants for the Emperor's Birthday, while there were also recent comments from Japan's ruling LDP tax chief Onodera, who described the US tariff situation as a real mess.
44% : European Parliament's trade chief is to propose freezing the ratification of the EU's trade agreement with the US until they receive details from the Trump administration regarding its trade policy.
44% : European Parliament's trade chief is to propose freezing the ratification of the EU's trade agreement with the US until they receive details from the Trump administration regarding its trade policy.
41% : * French Trade Minister Forissier said he is in talks with EU counterparts regarding US President Trump's tariffs and stated that the EU has the tools to retaliate against the tariffs, according to FT. *
38% : * ECB President Lagarde said the latest US tariff move risks upsetting the previously negotiated "equilibrium" between the US and EU, while she added that it risks posing a new headwind for the economy.
32% : * Japanese ruling LDP tax chief Onodera said the US tariff situation was a real mess following the SCOTUS tariff ruling.
22% : US President Trump's new 15% flat-rate tariff is seen to most greatly benefit countries he has singled out for heavy criticism such as China and Brazil, while allies such as the UK, EU and Japan will suffer the largest hit from the new levy, according to data analysis cited by FT. * Goldman Sachs analysts indicate that most Asian economies will experience slightly lower US tariffs after the Supreme Court ruling on IEEPA tariffs, with China expected to see the largest decline.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.