European Shares See Downturn Amid Escalating Tariff Tensions
European shares declined amid escalating trade tensions fueled by new tariffs announced by U.S. President Trump. The STOXX 600 index saw a dip, though weekly gains remain possible. Tariffs targeting multiple countries including Canada and the EU raise concerns over future trade negotiations.
European stocks experienced a downturn on Friday as U.S. President Trump expanded his trade war by targeting additional countries such as Canada, sparking investor anxiety over potential tariffs on the European Union.
The pan-European STOXX 600 index slipped 0.4% to 550.96 points by 0708 GMT, despite showing signs for a weekly amplification. Major regional indexes mirrored this decline.
Trump's announcement of a 35% tariff on Canadian imports and proposed increases for other nations stirred uncertainty around ongoing trade talks with the EU, affecting sectors like personal goods, healthcare, and bolstering defence stocks slightly.
(With inputs from agencies.)
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