European Markets brance for turbulence as trumo threatens new tariffs

European Markets brance for turbulence as trumo threatens new tariffs 

European markets braced for a turbulent Friday as Germany's DAX index was expected to open lower following fresh tariff threats from U.S. President Donald Trump, who announced plans to impose steep import duties on key trading partners including Canada and the European Union.

The DAX closed Thursday at 24,456.81 points, down 0.4 percent, after Trump revealed he would target Canadian goods with a 35 percent tariff effective August 1 and threatened to send official notifications to the EU and Canada as early as Friday. The announcement marked the latest escalation in Trump's expanding trade war, which has already sent shockwaves through global markets.