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MORNING BID EUROPE - Markets not shaken by Trump's tariffs

Rae Wee gives us a look at what the European and global markets will be like tomorrow.

The price movement of stocks in recent days has shown that investors have become less interested in Donald Trump's tariffs.

Asia shares rose on Thursday, riding the wave of Nvidia's quick rise to $4 trillion in valuation. Futures indicated similar gains for Europe in the afternoon.

On Wednesday, the U.S. president launched his tariff attack into overdrive. He announced a new tariff of 50% on U.S. imports of copper and a duty 50% on Brazilian goods. Both duties will begin on August 1.

The Brazilian real and copper prices fell in Brazil and London, but there was little impact on other markets.

Bitcoin was still near its record high, and the dollar dropped as investors took on more risks. They chose to ignore the Trump headlines.

Money managers and analysts used the words "desensitized" and "numb", but it is unclear how long they will continue to use them.

Investors are waiting to see the progress on a deal between U.S.A. and European Union.

Trump said that he "probably" would tell the EU what rate they could expect to receive for their exports to the U.S. soon, and added that the 27-nation group had become more cooperative.

EU Trade Chief Maros Sefcovic stated that good progress was made on a trade framework agreement, and a deal could be reached within a few days.

Trump's latest delay in implementing tariffs has given hope to Japan, South Korea, and the European Union, that deals could be made to reduce duties. However, some exporters, such as South Africa, are confused and have no idea what to do next.

Investors are taking the news with a smile and have little reason to panic. They put their trust in "TACO", an acronym for Trump always chickens out.

The following are key developments that may influence the markets on Thursday.

Weekly U.S. jobless claims

Alberto Musalem and Mary Daly, Federal Reserve speakers

Are you trying to stay up-to-date with the latest news on tariffs? Our daily news digest provides a quick overview of the most important headlines that impact global trade. Tariff Watch is available here.

(source: Reuters)