Trump's new tariff threat against the EU and Mexico causes European stocks to fall
Internet reported that European stock markets fell on Monday, led by auto stocks. U.S. President Trump's recent threat to impose high tariffs on the European Union and Mexico made investors uneasy. The European Stoxx 600 index fell 0.6% to 544.3 at the beginning of the session. Except for the UK's FTSE 100 index, which rose 0.2%, other regional stock indexes fell. Trump threatened on Saturday to impose a 30% tariff on imports from the European Union and Mexico starting August 1. In response, the European Union said on Sunday that it would extend the suspension of countermeasures against U.S. tariffs until early August and continue to push for a negotiated settlement. On Monday, Italy's foreign minister said the European Union had prepared a list of tariffs on U.S. goods worth 21 billion euros ($24.5 billion) if the two sides failed to reach an agreement, exacerbating trade turmoil. European auto stocks fell 1.4%, while retail stocks fell 1%. (Jin Shi)
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