European shares head for negative open as White House proposes fresh tariffs on EU
European shares are expected to open negatively as new U.S. tariffs on 60 countries are proposed. The tariffs target nations like China, the EU, and Japan for not banning goods made with forced labor. Investors are also watching developments in the U.S.-Iran conflict amid rising tensions.
- ▪U.S. proposals for new tariffs could affect 60 trading partners.
- ▪The tariffs are aimed at countries accused of importing goods made with forced labor.
- ▪Inditex reported a 5.8% increase in sales for its fiscal first quarter.
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European futures data pointed to a broadly negative open for shares listed in the region on Wednesday, as investors weighed U.S. proposals for sweeping new tariffs on 60 countries. The Office of the U.S. Trade Representative has floated additional tariffs of up to 12.5% on 60 trading partners over their alleged failure to ban goods made with forced labor. The economies in line to be targeted by the measures include China, the European Union and Japan. "The failure of our most important trading partners to address the importation of goods made with forced labor is unacceptable. This creates a dynamic where American workers are forced to compete globally on an unlevel playing field," said U.S.
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