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)