Brussels- Saba:
European stocks has fallen sharply affected by the interaction of global markets with the new customs duties on cars announced by US President Donald Trump.
The Stoxx 600 regional index fell 0.56% at 3:39 pm London time, with the Stoxx European auto index fell by 1.14%.
The shares of Stellantis, which manufacturer of pocket cars, decreased by 4.6%.
While the shares of Mercedes-Benz fell by 3%, and the German BMW shares decreased by 2%, according to CNBC.
The German DAX index also decreased by 0.7%, the French Cak 40 index, by 0.5%, and the British Financial Times Index by 0.27%.
Trump said yesterday, Wednesday, that he would impose 25% customs duties on "all non -manufactured cars in the United States", with fees entering into force on April 2.
Will Charf, Trump's assistant at the White House, said that the new customs duties are applied to "cars and light trucks manufactured abroad."
Later, Trump threatened, through his "Truth Social" platform, to impose a "much larger" customs duties on the European Union and Canada if they cooperated "to inflict economic harm in the United States."
In a publication on Wednesday evening via the "X" platform, European Commission President Ursula von der Line expressed her "deep regret" of Trump's recent decision to impose customs duties.
"The European Union will continue to seek negotiating solutions, while preserving its economic interests."
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