European Markets Open Higher Amid Trade Tensions

European markets experienced a positive opening on Wednesday, as investors kept a close eye on the latest developments in US trade policies and awaited advancements in transatlantic negotiations.

Trump's New Tariffs Shake Markets

President Donald Trump has announced a 50% tariff on copper, sending prices to unprecedented highs, alongside a warning of a potential 200% duty on pharmaceuticals. This move has already affected 14 countries with tariff notifications, and at least seven more are expected to face new trade measures.

Hope for a US-EU Deal

Despite the escalating tensions, there remains optimism for a US-EU deal to be reached in time, possibly before August 1, as a previous key tariff deadline approaches today.

Market Performances

At 9:00 am CET, notable performances included the DAX rising 0.36%, with Deutsche Bank AG NA increasing by 1.50%. The EURO STOXX 50 and the French CAC 40 also saw gains, while the FTSE 100 opened higher. Currency movements were mixed, with the euro trading flat against the US dollar and the pound advancing.