India, April 3 -- European stocks are seen opening deep in the red on Thursday after U.S. President Donald Trump announced a 20 percent levies on European goods.
Tariffs of 25 percent on automobiles made outside the U.S. were also announced with immediate effect.
Sweden and Ireland said in statements that they "regret" the additional tariffs.
"The universal tariffs announced by the U.S. are a major blow to businesses and consumers worldwide. Europe is prepared to respond. We'll always protect our interests and values. We're also ready to engage," President of the European Commission Ursula von der Leyen said in a post on X.
Asian stocks drifted lower and U.S. stock futures tumbled on fears that Trump's sweeping tariffs of at least 10 pe...