India, April 7 -- The safe-haven Swiss franc strengthened against other major currencies in the European session on Monday, as European stock markets traded lower after reports suggested the European Union is gearing up to impose retaliatory tariffs on the United States.
It is feared that U.S. President Trump's proposed massive tariffs and retaliatory actions against the U.S. tariffs could potentially lead to a global economic recession in 2025.
The European Union is likely to join Canada and China against Trump's tariffs. "We will react in areas where it hurts the United States," a senior EU official said.
As per Reuters, countries like Japan, Mexico, South Korea, and India are seeking concessions from the U.S. rather than retaliating....