European bags worsen in the middle of the session with the return of fears on the duties. Milan yields 1.6%, under 40 thousand points, black shirt in front of Frankfurt (-1.1%), Paris (-1%) and London (-0.6%) while in New York the future lose ground, with those on the ‘P 500 down by 0.7%and those on the Nasdaq of 0.6%. The euro remain weak (-0.1% to 1.169 on the dollar) and government bonds, whose returns are still up, in view of Donald Trump‘s letter on bilateral rates for the EU, expected for today. In Milan, Banks and Exports, with BPM (-3.6%), Stellantis (-3.5%), Iveco (-3.4%), Bper (-3.1%) at the top of the discounts.
“Compared to yesterday, we remain completely ready to conclude an agreement of principle with the United States. We have no updates that indicate that this will happen imminently”. This was said by the spokesman for the European Commission responsible for trade, Olof Gill, taking stock of the ongoing negotiations with Washington. “There are no scheduled contacts” in the next few hours, “but everything can change at any moment,” he highlighted.
US President Donald Trump has imposed 35% duties at Canada and announced that the European Union will receive the letter on rates today.
In addition, the president said that he intends to impose generalized bodies of 15% or 20% on most commercial partners. “We will simply say that all the remaining countries”, those who have not received the letters on rates, “will pay, whether 15% or 20%,” Trump said in an NBC interview.
The duties in 35% will not be applied to goods compliant with the free trade agreement between the United States, Canada and Mexico, for which Trump had previously applied rates of 25%.
Trump added that on Monday he will make an “important declaration” on Russia. The president reiterated that he was “disappointed” by Moscow: “But we will see what happens in the next two weeks”. The measure that provides for greater sanctions to Russia “allows the president to do what he wants. In other words, it is my option if I want to use it,” said Trump. The Senate will approve the provision “but it is up to the president to decide whether he wants to use it or not,” he added.
Two informed sources explained that the US president will send weapons to Kiev, for the first time from his return to office, based on a presidential power frequently used by his predecessor Joe Biden. The Trump team will choose the weapons to be sent to Ukraine from the US stocks based on the Presidential Drawadown Authority and according to one of the sources, the package could be worth about 300 million dollars.
Tuesday Trump said the United States will send further weapons to Ukraine to help the country defend themselves from the Russian advance. Weapons may include defensive patriot missiles and medium -ray offensive rockets. So far, the Trump administration has sent weapons to Kiev only based on the previous authorizations given by the former president Joe Biden. The Presidential Drawdown Authority allows the President to draw from the stocks of weapons to help the allies in case of emergency.
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