Germany’s Maas: EU will respond to US tariffs with its own measures

German Foreign Minister Maas was on the wires earlier today, via Reuters, responding to the latest US tariffs on the European goods.

Maas: “The European Union now will have to react and, after obtaining the approval of the World Trade Organization, probably impose punitive tariffs as well.”

 His comments come after the WTO ruled that some subsidies EU states paid to planemaker Airbus were illegal, allowing the US to impose the tariffs on the European imports.

EUR/USD continues to trade in a narrow range around 1.0970, as the recovery lacks follow-through ahead of the US employment data.