India, July 11 -- German stocks are down sharply on Friday as trade war concerns hurt sentiment following U.S. President Donald Trump imposing a 35% tariff on Canadian imports, effective August 1.
Trump also talked about blanket tariffs of 15 to 20% on most of America's trading partners and announced plans to make a 'major statement' on Russia.
Meanwhile, markets await news on tariffs for the European Union. Currently, the U.S. imposes 50% tariffs on EU steel and aluminum, 25% on cars and 10% on all EU imports.
The benchmark DAX, which dropped to 24,166.46, was down 270.60 points or 1.11% at 24,202.48 a few minutes ago.
Brenntag, Siemens Healthineers, Deutsche Post, Siemens and Commerzbank are down 2 to 2.25%.
Deutsche Bank, Daimler Tr...