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Meanwhile, the European Union is preparing to counter the U.S. tariffs imposed on several exports by proposing a list of retaliatory tariffs on American products, which could amount to $28 billion. While some European leaders advocate for a firmer stance against the U.S., others like Italy and Spain urge for diplomatic engagements instead of escalatory measures.
Conclusion: An Uncertain Week Ahead
As the week progresses, it promises to be filled with developments that will undoubtedly shape the economic trajectories of nations globally. The Market Update team will keep you informed with the latest news and analyses as this tumultuous situation unfolds.