The article discusses the immediate impact of President Trump's tariff threats on European stock markets, with significant declines noted in indices like the Cac 40 and Dax. Taoiseach Micheál Martin's urgent talks in Brussels signify the need for a strategic response to the looming tariff impositions. German and French stock markets fell around 2% in early trading, and the UK's FTSE 100 index declined by 1.2%. Carmakers, especially those with operations in Mexico, faced the brunt of the downturn. Asian markets also reacted with heavy losses, highlighting the global effects of Trump's trade stance.
European stock markets, reeling from President Trump's threats of tariffs, experienced significant declines, with the Cac 40 and Dax falling around 2% in early trading.
The UK's FTSE 100 index fell by 1.2% as Trump's comments highlighted concerns over trade relations, despite hopes for a deal with Britain.
Carmakers like Volkswagen and BMW were heavily impacted due to their exposure to tariffs affecting operations in Mexico, leading to declines around 5%.
Asian markets reacted first with heavy falls; Japan's Nikkei dropped 2.7%, demonstrating the rapid response to Trump's tariff threats.
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