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US-EU trade deal wards off further escalation but will raise costs for companies and consumers

FRANKFURT, Germany, July 28, 2025 (AP) — President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal that imposes 15% tariffs on most European goods, warding off Trump’s threat of a 30% rate if no deal had been reached by Aug. 1. The tariffs, or import taxes, paid when Americans buy European products could raise prices for U.S. consumers and dent profits for European companies and their partners who bring goods into the country. Here are some things to know about the trade deal between the United States and the European Union: Many

Gold stages rebound on dollar weakness; US, EU ink tariff deal

July 28 (Reuters) – Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. Spot gold was up 0.2% at $3,342.62 per ounce, as of 0421 GMT, after touching its lowest level since July 17. U.S. gold futures edged 0.2% higher to $3,342.90. The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods – half the threatened rate – and averting a bigger trade war between the

Gold falls Rs 500 to Rs 99,120/10 g; silver trades flat

New Delhi, Jul 25 (PTI) Gold prices extended losses for the second straight day, by declining Rs 500 to Rs 99,120 per 10 grams in the national capital on Friday, amid easing global trade tensions and dampening the safe-haven demand. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had finished at Rs 99,620 per 10 grams on Thursday. At the local markets, gold of 99.5 per cent purity also decreased Rs 500 to Rs 98,750 per 10 grams (inclusive of all taxes) on Friday as against the previous closing level of Rs 99,250

Rupee weakens 12 paise to settle at 86.52 against US dollar

Mumbai, Jul 25 (PTI) The rupee declined 12 paise to settle at 86.52 (provisional) against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52 (provisional), registering a loss of 12 paise from its previous closing level. On Thursday, the rupee

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