(Reuters) – The main European scholarships retreat at the start of the session on Friday, while customs duties remain at the center of attention, after the last announcements of the American president Donald Trump the day before and pending more details on the progress of commercial negotiations between the European Union and the United States.

In Paris, the CAC 40 lost 0.42% to 7,869.40 points around 7:10 a.m. GMT. In Frankfurt, the Dax fell by 0.49% and in London, the FTSE 100 yields 0.03%.

The Eurostoxx 50 index is down 0.48%, the FTSEURofirst 300 abandons 0.42%and the Stoxx 600 fell by 0.41%.

At the end of the weekend and a few days from the start of the period of publication of quarterly financial results, uncertainty remains on the magnitude and the rate of the entry into force of American customs duties, after President Donald Trump’s last statements.

The White House tenant announced Thursday that the United States would impose customs duties of 35% on imports from Canada next month, adding that general customs duties of 15% or 20% on most other business partners were envisaged.

At European level, Donald Trump said that the twenty-seven would also receive a letter, which investors interpret as a sign of a bad course of commercial negotiations.

According to Joseph Casturso, head of the international economy at the Commonwealth Bank of Australia, “the potential escalation between the EU and the United States is a major issue for the financial markets”.

On the data front, the figures of the British national statistics office published on Friday revealed a contraction of 0.1% of the economy in May. In France, IPCH inflation was revised upwards in June 0.9%.

At the values, Norwegian Air advances 6.2% after its results and the announcement of the payment of a dividend.

(Written by Mara Vîlcu, edited by Augustin Turpin)

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