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Oggetto Discussione: UK Will Cut Tariffs, France and Germany F Posta RispostaInserisci Nuova Discussione
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Registrato: 26 Mag 20
Stato Connessione: Sconnesso
Messaggi: 167
Postato: 21 Nov 20 alle 13:41 | IP Salvato Riporta xysoom

UK Will Cut Tariffs, France and Germany Fight Pandemic

As the world's second epicenter after China, Europe,
after months of hard work, had survived the worst period
of the epidemic and gradually began to shift the focus to
economic recovery. Large fluctuations are expected in the
European forex market.To get more news about
WikiFX, you can visit
wikifx official website.
  With the alleviation of the coronavirus pandemic, the
UK continues the process of Brexit. A few days ago, the
British government announced a new post-Brexit tariff
system to replace the EU's common external tariffs. The
British government stated that the new tariff system,
known as the “British Global Tariff”, will be formally
implemented on January 1st, 2021. Compared with the EU's
common external tariffs, the new tariff will be simpler
and cheaper. The new plan will see Britain's tariffs
reduced by 30 billion pounds after Brexit. The news
shortly propped up the pound to a new high in 4 trading
days. However, the pound is still under test. Bearish
factors, such as bumpy progress of the latest round of
Brexit negotiations and the negative attitude of traders
towards the pound, continue to affect the currency.
  On the other hand, there have also been recent moves
within the EU. In response to the severe economic
recession caused by the epidemic, leaders of France and
Germany supported the establishment of a European Union
recovery fund of €500 billion (US$ 543 billion), which
will be supported by joint borrowing from EU member
states. Affected by this news, the euro once rose to its
highest level since May 4th and finally closed higher.
However, the plan still faces a blurry outlook as the
final agreement will require the support of all 27 member
states, while Austria immediately reaffirmed its
objection to direct assistance. German Chancellor Angela
Merkel said that the current EU treaty remains unchanged
but may be changed in the future, which opens the door
for further fiscal integration, a positive factor for the

While countries began to restore their economies in the
post-epidemic period, the different situations they're
facing may lead to an unbalanced recovery pace, and there
will still be greater uncertainties in forex markets.
  For more financial information and forex market
updates, please visit WikiFX official website or download
WikiFX App.
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