Euro zone consumer confidence rose by 0.6 points in July from the June number, figures released on Tuesday showed. The European Commission said a flash estimate showed euro zone consumer morale improved to -6.6 this month from -7.2 in June. Economists polled by Reuters had expected July euro zone consumer confidence to remain flat at -7.2. In the European Union as a whole, consumer sentiment rose by 1.0 points to -5.9.
The European Union would retaliate with extra duties on 35 billion euros (£31.46 billion) worth of U.S. goods if Washington went ahead with tariffs on EU cars, the bloc’s trade chief said on Tuesday. We will not accept any managed trade, quotas or voluntary export restraints and, if there were to be tariffs, we would have a rebalancing list, European Trade Commissioner Cecilia Malmstrom told a committee of the European Parliament. It is already basically prepared, worth 35 billion euros. I do hope we do not have to use that one, she continued.