Global Trade Hopes Revive Amid US, EU Talks
(MENAFN) Worldwide financial markets showed optimism about dodging a potential trade conflict after United States Leader Donald Trump and Italian Premier Giorgia Meloni expressed confidence on Thursday regarding the chances of achieving a “fair” agreement between the United States and the European Union.
While in Washington, Meloni led European Union efforts to push forward discussions on a trade accord with the US—an issue made more pressing by Trump’s move to introduce import duties of no less than 10 percent on various countries.
The EU was subjected to a 20 percent tariff but, like many others, received a 90-day delay to allow time for dialogue.
During a working luncheon at the White House, Trump stated he felt "no rush" to finalize an agreement but emphasized: "Of course, there'll be a trade deal. Very much. They want to make one, very much … a fair deal.”
Meloni supported that view, commenting: "I'm sure we can make a deal, and I'm here to help with that."
Japan also dispatched a senior team to Washington on Wednesday to discuss trade with Trump, who remained similarly positive after their talks wrapped up.
Additionally, Trump noted that China had initiated communication to reopen discussions after the US unveiled steep new tariffs on Chinese products.
According to him, Beijing had reached out “a number of times” since the announcement of a 145 percent tariff on certain imports from China.
In response to these diplomatic overtures, the VIX—commonly referred to as the "fear index" and a key indicator of market turbulence—declined by 9.16 percent, settling at 29.65.
This marked its lowest point since April 3, down from its peak of 50 following the tariff announcement.
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