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US President Donald J. Trump and European Commission President Jean-Claude Juncker last night Photograph: Jim Lo Scalzo / EPA
Hello, and welcome to our continued coverage of the global economy, financial markets, the euro zone and business.
Markets are easing today, after the abandonment of America and the European Union After the talks at the White House, Donald Trump and Jean-Claude Juncker emerged to announce that they had agreed to work together at "zero" tariffs, barriers and subsidies.
Trump said it was a "very big" day, after Europe agreed to buy more soy beans and natural gas from America. The two sides also agreed to work together to reform international rules on trade.
In truth, the details are a bit limited – as we covered in the liveblog of last night, both parties have mainly agreed to negotiate. But this is an improvement over the threats launched across the Atlantic by social media.
It is important to note that both parties have agreed to no longer charge rates while they continue to speak. This eliminates the threat of new punitive taxes on imports of European cars.
The two men even shared one of Juncker's famous kisses in the oval office – an appropriate way to seal the trigger.
Donald J. Trump
(@ realDonaldTrump)Clearly, the European Union, represented by @JunckerEU and the United States, represented by yours, s & # 39; love! pic.twitter.com/42ImacgCN0
Donald J. Trump
(@ realDonaldTrump)Awesome to be back on track with l & # 39; European Union. It was a great day for free and fair trade!
Donald J. Trump
(@ realDonaldTrump)Representatives of the European Union have said that they would start buying soybeans to our great farmers immediately. In addition, they will buy large quantities of LNG!
German Minister of Economic Affairs, Peter Altmaier, encouraged the movement, saying that it will save jobs.
Peter Altmaier
(@ peteraltmaier)Congratulations to @JunckerEU @realDonaldTrump : An accomplished breakthrough that avoids the trade war and saves millions of dollars. # 39; jobs! Excellent for the World Economy
Analysts are also optimistic, Adam Cole of the Royal Bank of Canada, stating:
This is a more positive result than many they had planned.
Also to come today
Facebook actions will be slammed at the opening of Wall Street, after the social media giant missed forecasts last night. He also warned that profitability would be affected by the cleaning of his platform and the fight against electoral interference.
Wall Street threw a bit of trouble last night, sending Facebook's actions plummeting in the opening hours.
(@ tictoc)
The $ 151 billion rout of Facebook could rewrite history as the biggest stock market crash in the United States. Https://t.co/8o4EZrnmDL pic.twitter.com/dK6SQBb3VJ
The European Central Bank meets to set monetary policy. No fireworks are planned. The ECB has already agreed on a plan to end its stimulus package, and it is far from ready to raise interest rates.
But the press conference of President Mario Draghi could be interesting. – They could show if Trump's tariffs had an impact
The Agenda
- 12:45 BST: Decision on ECB interest rates
- 13:30 BST: Press conference of the ECB with Mario Draghi
- 13:30 digits of balance
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