European markets expected to head south after Trump slaps 30% tariff on EU

Good greeting from London, and invited to CNBC's unrecorded blog covering each the enactment and concern quality successful European fiscal markets connected Monday.

Futures information from IG suggests determination markets volition commencement the week level to lower, with London's FTSE 100 expected to flat, Germany's DAX down 0.6% and France's CAC 0.5% lower. Italy's FTSE MIB is seen opening 0.7% lower.

The dour temper for European markets comes aft U.S. President Donald Trump announced astatine the play that helium would enforce a 30% tariff connected goods imported from the EU, dealing a stroke to the bloc aft respective months of negotiations to effort to scope a commercialized deal. The work volition spell into effect connected Aug.1.

The EU has said it volition not retaliate consecutive distant but would look to scope a deal.

"Imposing 30 percent tariffs connected EU exports would disrupt indispensable transatlantic proviso chains, to the detriment of businesses, consumers and patients connected some sides of the Atlantic," European Commission President Ursula von der Leyen said successful a statement.

She said the EU remains "ready to proceed moving towards an statement by August 1."

"At the aforesaid time, we volition instrumentality each indispensable steps to safeguard EU interests, including the adoption of proportionate countermeasures if required."

— Holly Ellyatt