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Former Russian President Dmitry Medvedev said on Monday that a framework trade agreement struck between the European Union and the United States was "anti-Russian" likening it to a de facto ban on buying Russian oil and gas. The U.S. struck the deal with the EU on Sunday, imposing a 15% import tariff on most EU goods. Ursula von der Leyen, president of the European Commission, said in a statement afterwards that the agreement would help the bloc fully phase out Russian fossil fuels in [Read more]

Shares of U.S. liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade, Venture Global, and Cheniere Energy jumped between 7% and 8.8%, with the deal bolstering the prospects for American LNG exporters as they expand to meet growing demand for cleaner-burning fuels. The EU, seeking to phase out its dependence on Russian [Read more]

European governments and companies reacted with both relief and concern on Monday to the framework trade deal struck with U.S. President Donald Trump, acknowledging what was seen as an unbalanced deal but one that avoided a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the U.S. impose a 15% import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the [Read more]

There are strong echoes of Donald Trump's failed trade deal with China from his first term as U.S. president in the framework agreement reached with the European Union. Trump and EU Commission President Ursula von der Leyen announced the deal for a 15% tariff on U.S. imports of EU goods at the U.S. leader's golf course in Scotland on Sunday. But more important than the 15% tariff rate was the apparent commitment by the EU to massively ramp up energy imports from the United States. The [Read more]

The U.S. and the European Union agreed on a framework trade deal on Sunday, ending months of uncertainty for industry and consumers on both sides of the Atlantic. Here are the main elements of the deal: * Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff, including cars, which now face 27.5%, as well as semiconductors and pharmaceuticals. The 15% tariff is the maximum tariff and is not added to any existing rates. * However, the U.S. is to announce the [Read more]