Market Information Monday 14 July 2025

The U.S. will impose a 30% tariff on goods from the EU and Mexico starting August 1, as part of a broader push for what the administration calls “reciprocal” trade. Together, the EU and Mexico account for roughly one-third of U.S. imports, totaling over $1 trillion in 2022. Several countries have warned of countermeasures, while trade talks with others remain unresolved ahead of the tariff deadline.

EU-China trade tensions are escalating, marked by reciprocal restrictions on medical devices and new Chinese tariffs on European brandy. Concerns over industrial overcapacity, trade imbalances, and the weaponization of trade have strained relations, with the EU increasingly protective of its markets. Despite past opportunities for cooperation, experts see little chance for improvement ahead of the EU-China summit.

China’s exports rose 5.8% in June, while imports grew 1.1%, marking their first increase this year. Exports to the U.S. continued to fall, down 16.1%, though the decline slowed amid a temporary tariff truce. Overall, first-half exports grew 5.9% year-on-year, with a trade surplus up nearly 35%, despite ongoing tariff pressures and global demand uncertainties.

The 6M Euribor increased with 2 basis points to 2.07% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.68% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.