India, April 9 -- European shares traded sharply lower on Wednesday as U.S. President Donald Trump pushed ahead with higher duties on roughly 60 trading partners that he dubbed the "worst offenders."
The latest set of U.S. tariffs, including a massive 104 percent levy on Chinese imports, take effect today, escalating a trade war that has rattled global markets.
Trump also proposed the imposition of a "major" tariff on drug imports in a bid to stimulate domestic drug production and tripled the previously announced tariff rates on low-value packages exported to the U.S. from mainland China and Hong Kong.
The pan European STOXX 600 tumbled 3.4 percent to 470.31 after climbing 2.7 percent on Tuesday to snap a four-session losing streak.
The...