<\/p>\n
Global stock markets are bracing for falls when trading resumes on Monday after Donald Trump<\/a> threatened eight European countries with fresh tariffs until they support his ambition to acquire Greenland.<\/p>\n The US president\u2019s plan to impose new trade levies of 10% on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland from 1 February<\/a>, rising to 25% on 1 June, is creating fear in the markets, and among European businesses.<\/p>\n Trading on the brokerage IG\u2019s weekend markets suggest there will be losses on the London stock exchange, and on Wall Street, when they reopen on Monday, while rising geopolitical fears could drive precious metal prices towards new record highs.<\/p>\n \u201cThis latest flashpoint has heightened concerns over a potential unravelling of Nato alliances and the disruption of last year\u2019s trade agreements with several European nations, driving risk-off sentiment in stocks and boosting safe-haven demand for gold and silver,\u201d said Tony Sycamore, market analyst at IG.<\/p>\n Britain\u2019s FTSE<\/a> 100 index was on track to fall by 0.9% on Monday, IG\u2019s weekend market suggested, while its Weekend Wall Street market indicated a 0.5% fall on the Dow Jones industrial average, which tracks 30 large US companies.<\/p>\n Gold was trading 0.6% higher at $4,625 an ounce on IG\u2019s weekend bullion market, nudging the record high of $4,642 an ounce hit last week, while spot silver was trading 0.5% higher at $90.41\/oz.<\/p>\n European leaders, including UK prime minister Sir Keir Starmer and European Commission president Ursula von der Leyen, criticised Trump\u2019s move on Saturday<\/a>, which threatens to undermine the Nato defence alliance.<\/p>\n Trump\u2019s new policy has \u201cwhipped up fresh economic chaos\u201d and is a setback for the UK economy, warned Susannah Streeter, chief investment strategist at Wealth Club.<\/p>\n \u201cThis is a migraine-inducing development for politicians who have already had to go through tortuous negotiations to reach the first tranche of tariff deals, winning exemptions for certain sectors. For companies selling into the United States, and their customers, this move creates another layer of difficult decision making.<\/p>\n \u201cAlready they have had to try to absorb the current tariffs \u2013 there will be little room to soak up any more \u2013 so this new tranche of duties is likely to end up being passed on to American customers,\u201d Streeter warned.<\/p>\n There were signs on Sunday that European business groups were pushing the EU to flex its muscles in response. Germany\u2019s engineering association, the VDMA, called on the Commission to consider using its \u201canti-coercion instrument\u201d against the US.<\/p>\n \u201cIf the EU gives in here, it will only encourage the US president to make the next ludicrous demand and threaten further tariffs,\u201d the VDMA president, Bertram Kawlath, said in a statement on Sunday.<\/p>\n Hildegard M\u00fcller, the president of the German auto industry association warned that the costs of these additional tariffs would be \u201cenormous\u201d for German and European industry.<\/p>\n William Bain, head of trade policy at the British Chambers of Commerce, predicted that new tariffs on goods exported to the US will be \u201cmore bad news for UK exporters\u201d, and he urged the UK government to push for last year\u2019s trade deal with the US \u2013 which was frozen last month<\/a> \u2013 to be implemented.<\/p>\n \u201cWe know trade is one way to boost the economy, and the success of transatlantic trade depends on reducing, not raising, tariffs. The government must prioritise the implementation of the [UK-US] economic prosperity deal and negotiate calmly to remove the threat of these new tariffs,\u201d Bain said.<\/p>\n<\/div>\n #World #stock #markets #brace #turbulence #Trumps #latest #tariff #shock #Stock #markets<\/p>\n","protected":false},"excerpt":{"rendered":" Global stock markets are braci… <\/p>\n","protected":false},"author":1,"featured_media":13449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/13448"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13448"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/13448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/13449"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}