European Shares fell on Monday, weighed down by renewed trade tensions after US President Donald Trump threatened to impose 30 per cent tariffs on imports from the European Union and Mexico starting August 1. The pan-European STOXX 600 index dropped 0.77 per cent by 8:36 a.m. GMT. Germany's DAX fell 0.75 per cent, France's CAC 40 slipped 0.60 per cent, and Spain's IBEX 35 declined 0.59 per cent. In contrast, the UK's FTSE 100 edged up 0.22 per cent. The tariff threat comes after weeks of unsuccessful negotiations between the US and its major trading partners. In response, the EU extended its suspension of countermeasures until early August while continuing to seek a negotiated settlement. Italy's Foreign Minister Antonio Tajani said on Monday that the EU has already prepared a list of retaliatory tariffs worth €21 billion ($24.5 billion) on US goods, which could be activated if talks fail. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
