The S&P 500 (SPX) secured a new intraday record high after European Union officials and diplomats said that a U.S.-EU framework deal could be signed this weekend.
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The EU is the largest trading partner of the U.S., although the comparison is flawed because the group comprises 27 nations. On a single country basis, Mexico is the top trading partner, followed by Canada, China, and Germany.
Trump Touts 50-50 Odds of U.S.-EU Trade Deal
President Trump isn’t as optimistic as the EU. “I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU,” Trump said at the White House on Friday. He also added that trade talks with China and the United Kingdom were going well. Trump is set to meet with UK Prime Minister Keir Starmer on Monday.
In 2024, the U.S. exported $370.2 billion of goods to the EU and imported $605.8 billion of goods from the bloc, resulting in a U.S. goods trade deficit of $235.6 billion.
The S&P 500 is up by 0.27% at the time of writing.
