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China Announces New Tariffs, but European Stocks are Expected to Begin Higher as the Tariff Truce Improves Mood

U.S. President Donald Trump’s decision to halt planned tariffs on imports from Canada and Mexico has caused global markets to exhale with relief, and European stocks are expected to open higher on Tuesday.

Trump’s decision to impose trade duties on China, Canada, and Mexico and to threaten to put levies on imports from the United Kingdom and the European Union caused a global market meltdown on Monday.

Monday’s session saw the pan-European Stoxx 600 trade down, with all sectors solidly in negative territory.

Stocks in the automotive, technology, and industrial sectors performed the worst.

After Trump declared a 30-day halt to tariffs on Mexico and Canada, market mood improved overnight.

The halt occurred after both nations committed to taking action to stop the flow of fentanyl and opioids into the U.S.

Source (CNBC)

SourceCNBC
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