Trump to delay decision on auto tariff imports for up to six months

15.05.2019 / 17:34

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The decision was due Friday and would have opened another front in the trade war. It was a major worry for European policymakers in particular.

Top US officials discussed the tariffs at a meeting yesterday, according to the report. The idea is to let Japan and EU trade negotiations play out first.

US stocks have wiped out gains on the headlines and USD/JPY jumped to 109.54. The euro is the main beneficiary as EUR/USD climbs 40 pips to 1.2121 and EUR/JPY rallies into positive territory.

The negative spin here is that Trump must believe the battle with China will be a prolonged one and that he doesn't want to fight on two fronts.

Trader Aleksandar Kumanov

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Trump to delay decision on auto tariff imports for up to six months

London

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