Here’s What European Companies Are Saying About the Trade War
- Equity markets roiled Friday by sudden U.S.-China escalation
- Firms were already bracing for impact, earnings updates show
Inside a Puma SE sportswear clothing store in Berlin, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
President Donald Trump’s tariffs announcement Thursday confirmed the fears of lots of European companies, which, according to earnings reports released this week, are increasingly resigned to global trading conditions getting worse before they get better.
Almost every European equities sector dropped on Friday in reaction to Trump’s plan for a 10% tariff on a further $300 billion of Chinese imports, with China warning it will take “necessary counter-measures.”