European markets open mostly positive as Trump threatens new auto tariffs
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- Trump threatens to raise tariffs on EU cars and trucks to 25%, prompting the European Commission to keep its response options open.
- Continental fell 5.2% in early trade, the biggest loser on the Stoxx 600 as auto stocks tumbled 1.6% after the tariff threat.
- Nokia surged 7% on news of Inseego’s acquisition of its fixed wireless access business, lifting telecoms 1.2% and contributing to the Stoxx 600’s 0.1% gain.
- Project Freedom proposes deploying 15,000 troops, guided‑missile destroyers and 100 aircraft to escort commercial ships through the Strait of Hormuz, while Brent crude slipped 0.8% to $107.38 a barrel.
Why it matters: EU automakers lose as tariffs rise to 25%, dragging Continental 5.2% and Volkswagen 1.7% lower, while telecoms gain from Nokia’s 7% surge, lifting the Stoxx 600; This will push EU car prices up and tighten supply chains, benefiting telecom investors.
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