European stocks hit a two-week low on Thursday after U.S. President Donald Trump ratcheted up transatlantic trade tensions by announcing a new 25-percent tariff on all auto imports.
In a late-night post on his Truth Social platform, Trump threatened to impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.
European Commission President Ursula von der Leyen said she “deeply regrets” Trump’s latest tariffs move. “The EU will continue to seek negotiated solutions, while safeguarding its economic interests,” she said.
The pan European STOXX 600 dropped 0.9 percent to 543.59 after falling 0.7 percent on Wednesday.
The German DAX tumbled 1.3 percent, France’s CAC 40 shed 0.9 percent and the U.K.’s FTSE 100 was down 0.6 percent.
Automakers fell sharply on tariff concerns. Stellantis NV tumbled 5 percent, BMW fell 4.1 percent and Volkswagen declined 3 percent.
Swiss eye care firm Alcon AG dropped 1 percent after it acquired a majority stake in Aurion Biotech.
Symrise, a global supplier of fragrances and flavors, gained half a percent after raising dividend and confirming outlook.
German chemical firm Henkel edged up slightly after voluntarily recalling 1,068 units of its Tec Italy Shampoo Totale.
European Shares Decline After Fresh Trump Tariffs
2025-03-27 08:55:28
