European stock markets are expected to decline in response to Donald Trump's announcement of a 30% tariff on EU imports starting August 1. The EUROSTOXX 50 lost 0.72% in futures trading, while DAX futures decreased by 0.84%. The euro weakened by 0.17% to $1.1669. The EU, disappointed by the lack of a trade deal, has delayed its own counter-tariffs on US exports. Ursula von der Leyen confirmed the extension of the suspension until early August while preparing countermeasures.
European stock markets are set to open lower as Trump's threat of a 30% tariff on EU imports affects market confidence, leading to a drop in the EUROSTOXX 50 index.
The euro is weakening after Trump announced a 30% tariff on EU goods, effective from August 1, impacting trade relations and European markets.
The EU expressed disappointment over Trump's decision to impose tariffs, as they hoped for a trade deal reducing tariffs similar to the UK's agreement.
Ursula von der Leyen announced a delay on the EU's retaliatory tariffs against US exports, preparing countermeasures while seeking a negotiated solution.
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