Overview

• President Trump decreed 30% duties on all European Union imports effective August 1 and warned of further hikes if Europe strikes back
• The European Commission is set to levy targeted tariffs on planes, cars and bourbon in response to U.S. measures
• U.S. consumer inflation climbed to 2.7% year-on-year in June, driving the 10-year Treasury yield up to 4.48%
• The Nasdaq gained 0.18% as Nvidia resumed sales of its advanced AI chips to China
• Paris’s CAC 40 dipped 0.10% to 7,758.52 points under pressure from trade tensions and France’s €43.8 billion austerity plan