Trump: EU not yet offering a fair deal | Forexlive

• EU not yet offering a fair deal.
• Bessent stayed at G7.
• Chance of Japan deal, but they’re “tough”.
• Reiterates threat to send letters with what tariffs he’ll charge.
• Pharma tariffs coming very soon.
• Might do separate Canada deal for Golden Dome.
• Canada will pay to join Golden Dome project.
• Will probably extend TikTok deadline again.
• Not too much in mood to negotiate with Iran.

The comments are mostly centred on tariffs. I don’t think tariffs matter that much anymore as the July deadline will be extended if needed and the markets have already priced in a 10% average tariff rate. Plus, businesses continue to plan with 10-20% tariff rate in mind.

Markets know that eventually we will get to deals and they will likely be around 10%. The positive expectations for global growth are now relying on Trump’s “big, beautiful bill” and rate cuts. Negative outcomes on those fronts could lead to a repricing in expectations and weigh on risk sentiment.

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