Euro bulls are facing the first big test of their conviction in the form of the European Union's U.S. trade deal, which has cast doubt on the durability of one of 2025's most popular trades.

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.

German chancellor Friedrich Merz said the trade deal struck by the EU with the US will hurt America and cause “considerable damage” to the Eurozone’s largest economy, as he battled criticism from business and political opponents.

US stocks were mixed Monday and the S&P 500 eked out a record high for the sixth day in a row as investors digested the announcement of a trade deal between Washington and Brussels.

The EU is promising colossal new US fossil fuel purchases under its trade deal with President Donald Trump, raising concerns for the bloc's climate fight -- should the mammoth pledges come true.The Trump trade deal comes as the EU debates its 2040 emissions-reduction target,

The US and EU are racing to lock in the final details of their major new trade deal before Friday's deadline. Critics say its a rushed fix, with German Chancellor Friedrich Merz calling the outcome unsatisfying and France’s Bayrou dubbing the EU’s "submission" a "dark day.

Pharma firms are calling for clarity on tariffs imposed under the new U.S.-EU trade agreement, as analysts warn that punitive sector-specific levies could risk blowing up the entire deal. Ambiguity abounds around the terms for pharmaceutical goods under the trade truce agreed Sunday, which imposes 15% tariffs on EU goods imported to the U.S.