economy
February 24, 2026
European stocks finish higher as Trump's tariffs take effect at lower than expected 10%
European stocks closed higher on Tuesday as investors assessed the new global trading landscape after President Donald Trump's tariffs move.
TL;DR
- European stocks closed higher on Tuesday, with the Stoxx 600 index up 0.3%.
- The auto sector led the gains, finishing nearly 2% higher.
- U.S. President Trump's new global import tariff was announced at 15% but took effect at 10%.
- The U.K. secured a 10% tariff rate previously, raising concerns about its existing trade deal.
- European officials expressed concern, and the European Parliament paused ratification of the U.S.-EU trade deal.
- U.S. stocks also rose on Tuesday after earlier declines.
- Standard Chartered reported a 16% jump in pre-tax profit, but it missed expectations.
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