European Markets Held in Suspense by U.S. Trade Tariff Decisions
European shares were listless as investors evaluated President Trump's new tariffs. The STOXX 600 was steady, with proposed tariffs impacting several countries by August 1. Europe, exempt from immediate increases, seeks potential U.S. trade leniencies. Selected sector stocks fluctuated amid global economic considerations, including German export declines.
European markets experienced a muted session on Tuesday as investors weighed the effects of President Donald Trump's latest tariff proposals targeting multiple countries.
The pan-European STOXX 600 index remained flat at 543.22 points as of 0710 GMT. The tariff adjustments detailed in letters to 14 countries, including Japan and South Korea, involve significant increases effective August 1, although Trump expressed flexibility pending any proposals from affected nations.
Notably, the European Union is not facing immediate hikes, as confirmed by EU sources, and is exploring possible exemptions from a baseline 10% levy. Meanwhile, German exports suffered due to decreasing U.S. demand post strong anticipatory purchases related to U.S. tariff forecasts.
(With inputs from agencies.)
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