So much for easing geopolitical tensions. The good mood was wiped out by headlines coming from the US, as the Commerce Secretary Ross announced that EU, Canada, and Mexico will start paying tariffs on steel and aluminum starting June 1st. Mexico and Europe didn't take long to respond, with the EU announcing duties “on a number of imports from the United States,” while Mexico announced taxes on US exports of different farm products. Safe-haven assets, which were under pressure, got a boost with the headline, although news that the Italian 5 Star Movement and the League parties have reached a new agreement on a ... (full story)