European stocks open higher amid new U.S.-China tariffs
Major European indexes opened slightly higher on Monday, Sept. 2, amid a new turn in the trade war between the United States and China.
According to CNN data provided, FTSE 100, the London Stock Exchange market index, has gained 1.44% over the past 24 hours.
Germany’s DAX was up 0.39%, while French CAC 40 saw an increase of 0.34%. New tariffs on $112 billion of Chinese goods were introduced by the administration of the U.S. President Donald Trump on Sunday, Sept. 1.
The retaliatory measures imposed by China also kicked in last weekend. Beijing responded with tariffs that targeted a total of $75 billion of U.S. goods.
Per CNBC, European investors are closely monitoring the situation in Britain as the Queen has approved Prime Minister Boris Johnson’s plan to suspend the Parliament in September amid fears of a no-deal Brexit.
Some attention is also focused on the ongoing political crisis in Italy, where PM Giuseppe Conte, the head of a coalition government between the Five Star Movement and the League, announced his resignation on Aug. 20.