Major bourses in Europe were higher on Monday, with the STOXX 50 adding 1.3% and the STOXX 600 gaining 1%, after the US and European Union reached a trade agreement over the weekend, easing transatlantic trade tensions.
The deal includes a 15% tariff on European exports, half the 30% initially threatened by the US. Certain goods, such as aircraft components and specific chemicals, will be exempt from tariffs, while duties on automobiles will be reduced to a 15% rate.
The agreement also includes provisions for the EU to purchase US energy and boost its investments in the country. The auto sector was among the top performers, adding more than 1.5%, led by Stellantis, VW, BMW, and Porsche.
Source: Trading Economics
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