French cheese and wine producers have warned of the damaging impact that U.S. President Donald Trump's threatened 30% tariffs on imports from the EU would have on the country's agriculture industry.

One-fifth of the EU’s exports are heading to the US. Tariffs on the carmaking sector hit the German economy the most, but potential tariffs on the pharmaceutical one could cost substantially to the Irish economy.

Next week is data-heavy, with markets bracing for key Chinese economic indicators as well as US inflation, retail sales, and consumer sentiment data, for insights into the monetary policy outlook.

After months of seeing very little inflation, US consumers probably experienced slightly faster price growth in June as companies started to pass along the higher cost of imported merchandise associated with tariffs.

The US economy is expected to slow the rest of the year as tariffs take a bigger toll on consumers and businesses, immigration constraints intensify

Germany's Economy Minister Katherina Reiche warns that President Trump's proposed 30% tariffs on EU imports could harm European exporters and US consumers. She advocates for a swift and pragmatic resolution to the trade conflict to prevent further economic damage amid rising tensions.

Bearish outlook comes a year after state investor opened Paris office and promised to commit $19bn to the region