US, european union and tariffs
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European Commission President Ursula von der Leyen meets U.S. President Donald Trump in Scotland, aiming for a significant trade agreement. High-level talks precede this, sparking cautious optimism. Potential tariffs on EU goods are a sticking point,
Last week, Killarney Brewing and Distilling company went to the wall after a failed examinership process. Laying off 54 workers, the company cited the “high tariffs on Irish whiskey exports” as one of the reasons why it was unable to continue trading.
The European Commission and member states are discussing the possible use of the anti-coercion instrument, which would allow the bloc to target digital and financial services in the event of a failure to reach a deal with the US on tariffs.
Gold prices extended losses on Wednesday following reports that the U.S. and European Union were closing in on a 15% tariff deal, dampening safe-haven demand, while silver earlier surged to its highest level since September 2011.