European Markets Fall on Trump’s Auto Tariffs
European stocks declined Thursday as investors reacted to Trump's latest automotive tariffs, which raised concerns over trade tensions and potential retaliation.
The Stoxx 50 dropped 0.8%, while the Stoxx 600 slipped 0.5%, led by a 1.1% fall in the autos sector. Stellantis tumbled 4.6%, with Mercedes-Benz and BMW also under pressure.
Trump announced a 25% tariff on all foreign-made cars and light trucks, set to take effect on April 2, and later warned of even higher tariffs on the EU and Canada if they take actions he deems harmful to the U.S. European Commission President Ursula von der Leyen expressed disappointment but emphasized the EU’s commitment to finding a diplomatic solution while protecting its economy.
Source: Trading Economics