President Trump reached an understanding with the European Commission this week, potentially averting an escalating trade war. The meeting in Washington, eased tensions caused by the US administration's threats to impose tariffs on car imports from Europe. Under the proposed agreement, the EU will increase imports of soybeans and liquefied natural gas as well as lower tariffs on other industrial products.
Macro
GDP grew at a 4.1% pace over the previous quarter, broadly in line with expectations and at the highest pace in over 3 years with the first quarter's reading revised higher.
Source: ADS