(Reuters) -European shares edged lower on Friday, as investors weighed uncertainty over U.S. trade deals, with the July 9 deadline fast approaching. The pan-European STOXX 600 index fell 0.4% to 541.61 points, as of 0704 GMT, and was on track to log a weekly decline. Other major regional indexes also traded lower. Trump said on […]
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European shares edge lower as US tariff deadline looms
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(Reuters) -European shares edged lower on Friday, as investors weighed uncertainty over U.S. trade deals, with the July 9 deadline fast approaching.
The pan-European STOXX 600 index fell 0.4% to 541.61 points, as of 0704 GMT, and was on track to log a weekly decline. Other major regional indexes also traded lower.
Trump said on Thursday that Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States.
With Trump’s 90-day pause on higher U.S. tariffs ending next week, investors have taken a cautious stance as several large trading partners, including the European Union, are yet to clinch trade deals.
The EU is pushing for an “agreement in principle” with the U.S. before the deadline.
Mining-related stocks led sectoral declines with a 1.1% fall, while technology stocks lost 0.8%.
Meanwhile, Trump’s tax-cut legislation cleared its final hurdle in the U.S. Congress on Thursday. Trump will sign it into law later in the day.
French train maker Alstom rose 1.1% on a 2 billion euro ($2.4 billion) contract from the New York Metropolitan Transportation Authority.
(Reporting by Sukriti Gupta in Bengaluru; Editing by Eileen Soreng)