The European Union and the United Kingdom are facing the possibility of tariffs being imposed by the USA, which has caused a drop in European stock indices. The Frankfurt Stock Exchange index DAX, the British FTSE 100, and the French CAC 40 have recorded significant declines. American indices Dow Jones, S&P 500, and Nasdaq have also fallen. The price of crude oil and Brent oil has risen, while the price of wheat has dropped. The dollar has strengthened against the euro due to the tariff announcement. Canada and Mexico are planning to retaliate with their own measures.
Trump plans tariffs on EU and UK; markets react negatively.
