FX.co ★ European Markets Set to Open Lower

European equity markets appeared set for a decline at the Friday opening, as investors exhibited growing caution ahead of the looming deadline for potential U.S. tariff hikes next week. Market sentiment was adversely affected following President Donald Trump's announcement of intentions to commence issuing letters regarding trade matters, potentially establishing unilateral tariff rates and heightening trade uncertainty. The European Union indicated progress towards a "framework" trade agreement with the United States, though it conceded that a comprehensive deal by the July 9 deadline remains unlikely. In corporate developments, Air France-KLM revealed plans to acquire a majority interest in Scandinavian airline SAS, signaling ongoing consolidation within the European aviation industry. In premarket activity, futures for the Euro Stoxx 50 fell by 0.5%, while those for the Stoxx 600 dipped by 0.4%.