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It's Thursday, July the 24th.
I'm Azhar Sukri for The Wall Street Journal.
Here is the AM edition of What's News,
the top headlines and business stories moving your world today.
Trade optimism is fueling a global market rally with Japan's topics hitting a new record high this morning and European stocks surging on signs that the US and European Union are nearing a trade deal.
President Trump's push to introduce a new standard for global trade is coming into sharper focus with officials on either side of the Atlantic converging on a possible 15% tariff deal.
The Journal's Kim McRaeil has been following EU trade negotiations closely and told our Kate Bullivant that it comes on the heels of a similar agreement with Japan earlier this week.
We heard yesterday is increasingly the view that trade officials on both sides in the EU and the US seem to be converging on this idea that maybe an outline deal could have 15% tariffs for most EU exports to the US.
And interestingly for Europe, that could potentially include cars,
which has been a key sticking point for them.
That looks a lot better than the 30 percent level that Trump had threatened just quite recently.
The caution I would issue here and I think is important to keep in mind that that doesn't necessarily mean a deal will be done until it actually has President Trump's approval.
And the Europeans actually thought they were close to a deal before just a couple of weeks ago and their hopes for the deal that they had been negotiating before ended up being dashed when Trump issued a letter threatening those 30 percent tariffs.
So some optimism, but by no means completely over the line yet.