US President Donald Trump, and Emmanuel Jean-Michel Frédéric Macron, have agreed to carry on talks on the digital tax until end-2020, according to Reuters, citing a French diplomatic source.
Great discussion with @realDonaldTrump on digital tax. We will work together on a good agreement to avoid tariff escalation.
– Macron.
Market implications
This is good news for risk appetite, as a concern was mounting over the US and EU trade wars now that the US has settled into ana agreement with China. There has been no immediate reaction today in a quiet North America session considering the bank holiday and long weekend, although it should feed into the general sentiment on global trade in general.
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