European markets are expected to open higher Tuesday as global markets prepare for U.S. President Donald Trump’s trade tariffs to come into effect on Wednesday.
The U.K.’s FTSE 100 index is expected to open 31 points higher at 8,689, Germany’s DAX up 88 points at 22,251, France’s CAC 8 points higher at 7,798 and Italy’s FTSE MIB 77 points higher at 38,816, according to data from IG.
The latest EU inflation data will be closely monitored by investors in the region, and U.K. house price data for March is also due.
Asia-Pacific markets climbed overnight and U.S. stock futures slipped on Tuesday morning as the market awaited clarity from Trump regarding his tariff policy rollout on Wednesday.
A slew of tariffs are set to come into effect, including a 25% levy on “all cars that are not made in the United States.” The president is also expected to announce his plan for reciprocal tariffs. The Trump administration has dubbed April 2 “Liberation Day.”
Trump said Monday that his reciprocal tariffs plan will target all other countries when they are announced Wednesday.
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