Europe open: Shares shrug off tariff woes
By Frank Prenesti
Date: Wednesday 04 Jun 2025
(Sharecast News) - European shares were up at the open on Wednesday despite US President Donald Trump's 50% steel tariffs kicking in.
The pan-regional Stoxx 600 was up 0.25% at 549.8. Germany's DAX outperformed with a rise of 0.75% and France's CAC 40 gained 0.32%.
Trump doubled tariffs on foreign steel and aluminium imports to 50% in the latest salvo of is trade war with the rest of the world.
The president signed an executive order on Tuesday which stated that the new levy would "more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries".
Wednesday is also deadline day for the US's trading partners to hand in proposals for deals that might help them avoid Trump's import tariffs from taking effect next month.
In equity news, Airbus shares rose after a report that Chinese airlines are considering ordering hundreds of aircraft as soon as next month.
Reporting by Frank Prenesti for Sharecast.com
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