U.S. President Donald Trump has dismissed French President Emmanuel Macron's assertion that he left the G7 Summit for a ceasefire between Israel and Iran, hinting at a more significant reason for his return to Washington.
The major averages in Asia were mixed in early trading as traders took stock of Wall Street’s gains overnight and stayed wary about the crisis in the Middle East.
Investors embraced a risk-on mood Monday, showing optimism that Iran might seek a diplomatic solution to the crisis despite continued hostilities with Israel.
Earlier, a report by German newspaper Handelsblatt stated that the 10% tariff offer would come with certain conditions and that it would not be permanent.
Markets cheered Monday after Iran signaled it wants to de-escalate tensions with Israel and return to negotiations, easing geopolitical jitters that had rattled investors and sent oil prices surging last week.
According to a report by Reuters, the Trump administration issued a memo over the weekend, highlighting 12 concerns about these nations and seeking remedial measures.
The report added that the EU was prepared to reduce tariffs on U.S.-made vehicles and streamline its regulatory process to facilitate easier sales of U.S. cars in the region.
