European stocks closed higher Tuesday after U.S. President Donald Trump’s new global tariffs took effect at a lower-than-expected 10 percent rate, easing investor fears. The pan-European Stoxx 600 ended the day up 0.3 percent, reversing earlier losses.
Auto stocks led gains, rising nearly 2 percent, after markets adjusted to the softer tariff impact. Investors had initially sold off Monday following Trump’s warning of a possible 15 percent blanket levy on U.S. imports.
A memo from U.S. Customs and Border Protection confirmed a temporary 10 percent duty under Section 122, set to last 150 days unless exempted. Uncertainty remains over whether the tariffs apply to the U.K., which secured a favorable trade deal last year.
European Stocks Fall Following Implementation of New Global Tariffs Imposed by US President #QNA #Economy https://t.co/AW9LgLRbvg pic.twitter.com/hsjI2ha4pG
— Qatar News Agency (@QNAEnglish) February 24, 2026
U.K. Business Secretary Peter Kyle said London is pressing Washington to honor existing agreements. European officials warned the move could still threaten trade ties, with the European Parliament pausing work on ratifying a U.S.-EU deal.
In corporate news, Standard Chartered shares fell after earnings missed expectations despite higher profits.
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