Swiss President Karin Keller-Sutter is rushing to Washington to negotiate a potential deal to reduce the 39% tariffs imposed by Trump, facing political and economic challenges, with possible concessions in agriculture, gold, military purchases, pharmaceuticals, and energy, amid a tense diplomatic environment.
Asian stocks remained mostly flat amid concerns over US trade tariffs and Japanese political uncertainty after Prime Minister Ishiba's loss in the upper house, with markets cautious ahead of major earnings reports and tariff deadlines.
EU officials dismiss German Chancellor Friedrich Merz's hopes that US tariffs will spare Germany's car industry, emphasizing that the US aims to reduce imports and that a special deal for cars is unlikely. Negotiations are complex, with the US threatening tariffs and the EU preparing retaliatory measures, impacting Germany's export-dependent economy.