U.S. President Donald Trump arrives for a press briefing at the White House, following the Supreme Court’s ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, D.C., U.S., January 20, 2026.
Elizabeth Frantz | Reuters
LONDON — European stocks are expected to start the week in negative territory as global markets react to U.S. President Donald Trump’s latest global tariffs policy.
The U.K.’s FTSE index is seen opening 0.2% lower, Germany’s DAX down 0.7%, France’s CAC 40 down 0.4% and Italy’s FTSE MIB 0.45% lower, according to data from IG.
European markets had ended last week higher after the U.S. Supreme Court ruled against a sizeable chunk of Trump’s “reciprocal” tariffs but the president said over the weekend that he would now introduce a new, blanket 15% global levy, up from 10%.
The new tariffs would be “effective immediately,” Trump said in a Truth Social post. He also warned Saturday that additional levies would follow.
“I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” he wrote.
U.S. stock futures fell Sunday night as the new tariffs heightened market uncertainty about the outlook for inflation and global growth. Asia-Pacific markets rose overnight despite the tariff uncertainty.
It’s a quiet start to the new trading week with no earnings expected on Monday. On the data front, Germany’s Ifo business climate survey is released and Italy’s latest inflation data is due.
