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EU Economic Commissioner: Trump's tariff threats are impacting the economy.
European Economic Commissioner Valdis Dombrovskis stated that the uncertainty in trade caused by US President Donald Trump's plan to impose tariffs on the EU has negatively impacted investment. In a press conference following the Eurozone finance ministers meeting in Brussels on Monday, he mentioned that a new round of rising Energy prices in recent months has also dragged down output. Nevertheless, Dombrovskis noted that a resilient labor market and inflation that "is still on track" to decline should help growth momentum gradually recover, though at a rate lower than previously expected. "We expect the EU's economic growth rate to be slightly lower than
The EU trade chief discussed trade disputes with the Trump team and agreed to meet soon.
EU trade commissioner Maros Sefcovic held a call with the Trump team to discuss how to resolve the brewing transatlantic trade dispute. EU Commission spokesperson Olof Gill stated that Sefcovic spoke on Wednesday with Trump's nominee for Secretary of Commerce Howard Lutnick, nominee for Trade Representative Jamieson Greer, and Director of the National Economic Council Kevin Hassett. Gill noted that the EU is committed to reaching a negotiated solution with the USA while protecting EU interests. This call was preliminary, and both sides agreed.
The interest rate differential between Europe and the USA attracts companies, with the issuance of reverse Yankee Bonds reaching the highest level since 2007 this year.
US blue-chip companies are issuing euro Bonds at a very fast pace in an effort to lock in borrowing costs that are significantly lower across the Atlantic. Data shows that so far this year, the so-called reverse yankee bond issuance has reached 23.4 billion euros (24.3 billion USD), the highest for the same period since 2007. Large bond issuance deals by T-Mobile US and IBM, along with issues from major Wall Street firms, have boosted the total amount of bond issuance. US companies are attracted by the European Central Bank's deposit rate, which is 175 basis points lower than the Federal Reserve's benchmark rate, making it advantageous for those companies that do not need to convert the funds raised from bond issuance back into USD.
The FOMO sentiment has crossed the Atlantic China Welding Consumables,Inc., and European stocks have now become the "hot cake."
The market continues to question the high valuations of US stocks, while the European Central Bank seems to be becoming increasingly dovish. The possibility of easing geopolitical conflicts has also boosted market sentiment. Citigroup's calculations show that under the baseline scenario, European stock markets still have about a 5% upside potential for the year.
The Spanish Prime Minister responds to Trump's tariff threat: The trade war is a "zero-sum game."
On Wednesday, Spanish Prime Minister Pedro Sanchez stated that a trade war does not serve the interests of either the EU or the USA. During an interview at the World Economic Forum in Davos, Swiss Franc, Sanchez said, "We have a strong transatlantic bond... our economies are closely linked, and I believe that a trade war does not serve the interests of either side, whether it is for the USA or the EU." He added, "A trade war is a zero-sum game."
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