EU spokesperson: EU's 'zero-for-zero' proposal still on table in talks with US

A spokesperson for the European Commission said on Monday that the European Union's (EU) 'zero-for-zero' proposal is still on the table in tariff negotiations with the United States (US), per Reuters.

The spokesperson further noted that the phone call between European Commission President Ursula von der Leyen and US President Donald Trump has given "new impetus" to trade talks and added that EU Trade Commissioner Maros Sefcovic will have a call with US Commerce Secretary Howard Lutnick on Monday afternoon.

Market reaction

EUR/USD showed no immediate reaction to these comments and was last seen rising 0.15% on the day at 1.1380.