ABN AMRO MeesPierson

Your assets deserve personal care and attention. When your plate is full, it is nice to have someone looking over your shoulder and actively thinking with you. Private Banking is there to help you realise your individual and family goals. At ABN AMRO MeesPierson we also add your business goals to the mix. 

Just as the tariff turmoil seemed to be easing, US President Donald Trump made headlines again. Last Friday, he announced plans to impose a 50% tariff on imports from the EU starting June 1. Trump claimed these higher tariffs are necessary to ramp up negotiations, as the trade talks are ‘going nowhere.’ On his social media platform, Truth Social, he accused the EU of being 'very difficult to deal with.' European markets declined, ending five weeks of gains. 

Last week, US President Donald Trump threatened Europe with a 50% tariff hike starting June 1st. In an unexpected twist, after speaking with Ursula von der Leyen, President of the European Commission, Trump delayed the potential tariff increase to 9 July. Despite the uncertainty created by the trade war and sudden tariff announcements, the impact on US Treasuries was minimal. 

Financial markets were extremely volatile in April. First, US tariffs announcement pushed markets lower. When US President Donald Trump backpedalled, equity markets recovered with force and now above ‘Liberation Day’ levels. Although we do not expect a recession, we do expect that the ongoing uncertainty will cause volatility to remain elevated. Therefore, we are using the rebound in financial markets to take some risk off the table.