India, Feb. 3 -- European stocks closed notably lower on Monday, as imposition of punitive tariffs by the U.S. President Donald Trump on Canada, Mexico and China and his warning that the European Union and the UK could be the next target for the levies triggered a sell-off across the board.
The Trump administration's 25% tariffs on Canada and Mexico came into force on Saturday (February 1). Canadian energy faces a 10% tariff as do Chinese goods, effective Wednesday (February 5).
The levy by the Trump administration has raised fears of a potential trade war and concerns about global economic outlook.
Markets trimmed their losses a bit after Trump agreed to delay tariffs on Mexico after coming to terms with Mexican President Claudia Sheinb...