Thursday, February 13, 2025
HomeTrading RoomAs Trump's Tariffs Spread to Other Markets, European Markets Close Lower

As Trump’s Tariffs Spread to Other Markets, European Markets Close Lower

Monday saw a decline in European markets as U.S. President Donald Trump threatened to impose trade duties on the European Union and the United Kingdom, in addition to imposing them on a number of other nations.

The pan-European Stoxx 600 recovered from its 1.6% morning low to close the session 0.93% lower.

When Mexico’s president, Claudia Sheinbaum, announced that the United States had agreed to postpone the imposition of President Donald Trump’s tariffs for a month, the Stoxx 600 automobiles index likewise slowed and ended the day 2 percent lower.

By the end of the day, Volkswagen’s stock had dropped 4.1%.

President Trump’s decision to impose 10% taxes on Chinese goods and 25% tariffs on imports from Canada and Mexico over the weekend caused a negative reaction from the region’s markets.

Mexico has vowed to follow suit, and Canada has responded with its own import restrictions.

Source (CNBC)

SourceCNBC
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