European Markets React to US Trade Tariff Warnings

European stock markets presented a mixed picture during Monday's premarket trading session. This comes in the wake of a stark warning from United States Treasury Secretary Scott Bessent, who indicated that the US is prepared to reimpose tariffs on countries without a trade deal by August 1.

Details of the US Trade Stance

Further escalating tensions, the US has reportedly notified the European Union of its intention to impose a 17% tariff on the bloc's food exports, should no agreement be reached by the July 9 deadline.

Market Performance at a Glance

At 8:00 am CET, the DAX remained unchanged, while the FTSE 100 saw a slight decrease of 0.14%. In contrast, the CAC 40 advanced by 0.43%, and the Euro Stox 50 climbed by 0.11% by 8:01 am CET.

Currency Movements

The euro held steady against the dollar at $1.17730 by 7:58 am CET. Meanwhile, the pound experienced a minor dip of 0.17%, trading at $1.36233 against the dollar by 7:59 am CET.