EU's Malmstrom: EU will retaliate against US car tariffs

European Union (EU) Trade Commissioner Cecilia Malmstrom crossed the wires in the last minutes reiterating that the EU will retaliate if the US were to impose sanction on European car imports. "The EU has a rebalancing list worth €35 billion if the US imposes car tariffs," Malmstrom added.

These comments were nothing new and had little to no impact on the market sentiment. As of writing, Germany's DAX was up 1.6% on the day and the Euro Stoxx 50 was adding 1.3% on their way to end the day with strong gains.