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No imminent EU-US agreement on tariffs: European stock markets fall, Milan worst performer

Commission spokesperson: ‘Ready for an agreement, but no contact planned at the moment.’ Markets react negatively

Hopes for a quick trade deal between the European Union and the United States are fading, and European stock markets are closing in the red. ‘There are no updates indicating that an agreement is imminent,’ said Olof Gill, spokesperson for the European Commission for Trade, specifying that no new contacts with Washington are planned in the short term, while leaving a glimmer of hope: ‘Everything can change at any moment.’

This statement contributed to cooling the markets on a day already marked by caution. The worst performance was recorded by the Milan Stock Exchange, with the FTSE MIB down by about 0.9%. Paris and Madrid also performed poorly, both down 0.9%, followed by Frankfurt (-0.8%), Amsterdam (-0.6%) and London (-0.4%).

Investors are paying increasing attention to the tariff issue, following the tensions that have resurfaced in recent weeks on the transatlantic axis. The failure of Brussels and Washington to reach an agreement reinforces the scenario of a complex summer for global trade, at a time when European economies are seeking stability.

Pending further diplomatic developments, markets remain under pressure and trade uncertainty remains one of the main factors of financial instability.

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