Europe is poised to suspend approval of the US trade deal. The European Parliament's international trade committee plans the announcement Wednesday in Strasbourg, France. This move escalates tensions between the US and Europe. It follows Donald Trump's Greenland acquisition efforts and tariff threats. Financial markets reacted negatively. European stocks saw a second day of losses Tuesday. The Dow Jones fell over 1.7%. The SP 500 dropped more than 2%, and the Nasdaq closed about 2.4% lower. Asia-Pacific markets showed mixed results Wednesday. Japan and Hong Kong indexes traded slightly lower. Hong Kong and mainland China shares saw slight gains. Gold prices continued to rise. The US and Europe have a long history of trade negotiations, often reflecting differing economic priorities and regulatory standards. The suspension raises the specter of a renewed trade war. The European Parliament's next steps will be closely watched.
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