Gold Hits a Crucial Crossroad: Will the EU-US Trade Stalemate Ignite a Bull Run or Trigger a Collapse?
In an interview with CBS News over the weekend, US Commerce Secretary Howard Lutnick signaled optimism about a potential deal. He stated that “These are the two biggest trading partners in the world, talking to each other. We’ll get a deal done. I am confident we’ll get a deal done.”
However, he also warned that an extension would not be granted. “That’s a hard deadline, so on August 1, the new tariff rates will come in,” he said.
According to CNBC, the European Council reported that the total value of trade between the EU and US amounted to $1.96 trillion in 2024.
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