Trump also threatened an extra 10% tariff on countries aligning themselves with the “anti-American policies” of the BRICS group of developing nations.
Both the tariff levels and effective dates have become moving targets as Trump, on Friday, added to the confusion by mentioning that some tariffs could reach up to 70%, levels far higher than the 10%-50% range he announced in April.
A White House official said on Friday that U.S. trade talks with the European Union were continuing and there was optimism an agreement could be reached in short order.
European energy stocks fell 1.3%, tracking oil prices. Banks were up 0.6%.
Capgemini fell 2.8% after the French IT services firm agreed to buy technology outsourcing company WNS for a cash payment of $3.3 billion.