Trump tariffs roil EU, Wall St futures

Euro ticks lower after EU gets levy threat

- WAYNE COLE

Wall Street and European share futures slipped in Asia yesterday as the latest salvo of threats in the US tariff wars kept investors on edge, though there were still hopes it would prove to be mostly bluster by President Donald Trump.

Trump on Saturday said he would impose a 30% tariff on most imports from the EU and Mexico from Aug 1, even as they are locked in long negotiations.

The European Union said it would extend a suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead.

Investors have become largely inured to Trump's chaotic policy methods and stocks eased only moderately, while the dollar gained little on the euro.

"It is hard to say whether the muted market response is best characterised by resilience or complacency," said Taylor Nugent, a senior markets economist at NAB.

"But it is difficult to price the array of headlines purportedly defining where tariffs will sit from August when negotiations are ongoing."