European Markets React to New US Tariffs

Following the announcement by United States President Donald Trump imposing a 30% tariff on the European Union, European stock markets are poised for a mostly lower opening. The move has stirred concerns over escalating trade tensions between the two economic powerhouses.

EU's Response and Market Movements

The European Union, while expressing hope for a negotiated settlement with Washington, has signaled readiness to implement countermeasures if necessary. Market reactions were immediate, with the DAX dropping 0.75% and the Euro Stoxx 50 falling 0.58%. The FTSE also saw a slight decline of 0.15%, while the CAC remained unchanged.

Currency Fluctuations

The euro and pound both weakened against the dollar, with the euro trading at $1.16715, down 0.17%, and the pound at $1.34654, a decrease of 0.25%.