Tension in the trade war seems to be decreasing, especially between the USA and the EU. The European Union has begun to lift tariffs imposed during the Trump administration's trade war, which is a significant reduction in tension in transatlantic relations. This move brings relief to businesses and consumers who have been greatly affected by trade disputes.

*Key Events:*

- *EU Tariff Cancellation*: The EU's decision to cancel tariffs is a positive step towards normalizing trade relations with the USA.

- *US-Canada Trade Talks*: There is optimism regarding trade talks between the USA and Canada, which may lead to further reduction of trade tension.

- *Impact on Emerging Markets*:

*Market Consequences:*

The reduction in trade war tension may boost market sentiment, potentially leading to increased economic activity and stability. However, it is important to closely monitor events, as trade relations may be unstable and subject to change.