The US100 is limiting earlier gains because, according to one European Union diplomat, if the United States does not agree to impose 15% tariffs on imports from the EU, with exceptions for several key sectors, the EU will impose retaliatory tariffs worth €93 billion. The sectors covered by the exceptions would include aviation, spirits, and medical equipment. The EU is scheduled to vote on this proposal tomorrow, and trade talks remain unstable. The market is reacting with uncertainty, as a lack of agreement could lead to an escalation of overall trade tensions.
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