The US is set to impose tariffs on $7.5 billion of European goods, which could range from aircraft parts to luxury goods and even shellfish, in the latest move in trade tensions between the two.
The EU has already warned that it will respond in kind of the US does go ahead with the tariffs, which the US says are justified due to illegal subsidies to Airbus. The EU has a similar case before the WTO for Boeing, which is set to reach an equivalent stage in the near future.
The government awaits the EU’s thoughts on their proposed Brexit plan. So far, the European Commission has said that they welcome these “advances”, however, problems still remain.
Tomorrow will be a busy day for economic releases, including services and composite PMI, as well as retail sales.
