European Markets Fall As Trump Threatens New Tariffs On EU, Canada, Mexico
European markets were trading lower on Friday after U.S. President Donald Trump renewed threats to impose tariffs on the EU and imposed new levies on Canada and Mexico.
At 3:15 a.m. ET (08:15 GMT), Germany’s DAX was down 0.8%, France’s CAC 40 was down 0.4%, while the U.K.’s FTSE 100 was down 0.2%.
Markets had ended Thursday’s session lower after Trump said a 25% tariff on EU imports, including cars, would be announced “very soon.”
Trump confirmed that a 25% across-the-board tariff on goods from Canada and Mexico would take effect on March 4, while China would face an additional 10% tariff from that date.
However, after talks with British Prime Minister Keir Starmer, Trump hinted that the U.K. could be exempt from the tariffs if a trade deal is reached. “I think there’s a very good chance,” he said, adding that Starmer was “working hard” to secure a deal.
Oil prices fell on Friday, heading for their first monthly decline since November, as global economic uncertainty and tariff risks outweighed supply concerns.
At 3:15 a.m. ET, Brent crude was down 0.9% at $72.93 a barrel, while U.S. West Texas Intermediate crude was down 1% at $69.94 a barrel.
German retail sales rose 0.2% month-on-month in January, recovering from a 1.6% decline in December, official data from Destatis showed. The reading beat market expectations of 0%.
On a yearly basis, Retail Sales grew 2.9%, compared with a 1.8% increase in December.
Source: Investing.com
