The European Union is set to impose new tariffs on U.S. imports, marking a major shift in EU-U.S. trade relations. Announced by Vice President Maroš Šefčovič, the tariffs will take effect on April 15, 2025, in response to previous U.S. tariffs targeting metals and the automotive industry.
This decision intensifies ongoing trade tensions, with a 20% tariff impacting various U.S. products. The S&P 500 showed immediate reactions, declining by 1.3% on the announcement day. EU leaders remain open to negotiations, emphasizing fairness in trade policies.
Amid these shifts, the cryptocurrency market is also experiencing heightened volatility, particularly with Ethereum, reflecting broader trends in global financial frameworks.
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