Global markets brace for a downturn as US President Donald Trump implements tariffs on goods from Mexico, Canada, and China, threatening further action against the EU and UK. The tariffs, set to take effect Tuesday, have triggered concerns about escalating trade tensions and their impact on the global economy. Prime Minister Justin Trudeau of Canada and President Claudia Sheinbaum of Mexico have announced retaliatory measures, while the EU and China have expressed strong opposition to the tariffs.
European markets are expected to open sharply lower Monday after U.S. President Donald Trump imposed trade tariffs on several countries and threatened to do the same with the European Union and U.K.
European markets are set to react negatively to President Trump's decision at the weekend to slap 25% tariffs on imports from Mexico and Canada and a 10% levy on goods from China. The tariffs are set to come into effect Tuesday. The U.S. does about $1.6 trillion in business with the three countries.When asked on Sunday about the prospect of tariffs on goods from the U.K. and European Union, Trump told the BBC that. He said a deal could be"worked out" with the U.K.
Trump described the U.S. trade deficit with the EU as an"atrocity," repeating his previous comments that the bloc had"really taken advantage" of the United States. Officials from the EU signaled previously that the bloc could respond to any future U.S. tariffs SoftBank commits to joint venture with OpenAI, will spend $3 billion per year to use ChatGPT Enterprise and other productsEarnings in Europe come from Julius Baer on Monday, while data releases include the latest euro zone inflation data.Traders appeared to search for safety in early Sunday night trading after the U.S. hit key trade partners with hefty tariffs on goods.Prime Minister Justin Trudeau slapped retaliatory tariffs of 25% on $155 billion worth of U.S. goods.
TARIFFS TRADE WAR GLOBAL MARKETS ECONOMY RETALIATORY MEASURES
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