Investors around the world made huge efforts to trade tariffs that came into effect by U.S. President Donald Trump, and the opening of European markets fell sharply on Monday.
Shortly after the opening bell, the Regional STOXX 600 index fell by 1%, with all departments and major Boers firmly in the negative territory. Germany’s DAX index brought losses, down 1.2% in early trade.
The sell-off comes as Trump tariffs leads in effect on Wednesday, which included a 25% levy on “all cars that are not made in the United States.”
By Monday, by 8:18 a.m. London, Europe’s Stoxx Automotive and Parts Index fell by 1.7%. Volkswagen fell 1.7%, while Mercedes-Benz fell 1.5%, and Renault fell 2.5%.
The president is also expected to announce his reciprocal tariff plan. The Trump administration has called April 2 “Liberation Day.”
The global market and the largest trading partner of the United States have attracted popularity due to the fledgling global trade war, but Trump seems to be ruthless. The Wall Street Journal reported on Sunday The president has prompted his advisers to become more aggressive in terms of tariffs in recent days.
In an interview with NBC News on Saturday Trump says he “doesn’t care” If foreign automakers raise prices due to their automatic tariffs. U.S. stock futures fell on Sunday night.
There were no major revenues in Europe on Monday. Data distribution includes inflation prints in Italy and Germany.
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