India, July 11 -- European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1, in a dramatic escalation of a trade war with the United States' closest ally over the country's alleged role in fentanyl flows.
He also talked about blanket tariffs of 15 percent to 20 percent on most of America's trading partners and announced plans to make a 'major statement' on Russia, denting investors' appetite for riskier assets.
Investors also waited for a word on tariffs for the European Union. The U.S. currently imposes 50 percent tariffs on EU steel and aluminum, 25 percent on cars and 10 percent on all EU imports.
The pan-European STOXX 600 fell 0.8 percent to 548.57 but was on ...