India, July 11 -- European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
Trump also said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer.
Weak GDP data weighed on the British market.
The pan European Stoxx 600 fell 1.01%. The U.K.'s FTSE 100 closed down 0.38%, Germany's DAX lost 0.82% and France's CAC 40 ended 0.92% down, while Switzerland's SMI tumbled 1.6%.
Among other markets in Europe, Belgium, Czech Republic, Denmark, Finland, Greece, Ireland, Netherlands, Russia, Spain and Sweden ended w...