Europe open: Shares flat amid latest Trump tariff tantrum
By Frank Prenesti
Date: Monday 07 Jul 2025
(Sharecast News) - European shares opened flat on Monday as investors eyed the latest tariff threat outburst from US President Donald Trump against the so-called 'BRICS' nations and yet another extension to the pause in planned American import duties.
The pan-regional Stoxx 600 index was down 0.03% in early deals with major bourses mixed.
Trump threatened an extra 10% tariff on countries that aligned themselves with what he called the "Anti-American policies of BRICS", without specifying what his grievances were.
The bloc includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. It is currently meeting in Brazil and on Sunday issued a joint statement, warning against "unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs".
Trump also shifted his deadline for countries to agree a trade deal wit the US to August 1 from July 9.
In equity news, Shell fell as the energy giant lowered second-quarter gas output guidance and warned of weaker trading results.
French IT services firm Capgemini fell as it agreed to buy technology outsourcing company WNS for $3.3bn in cash to move into the AI market.
Reporting by Frank Prenesti for Sharecast.com
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