FX.co ★ European Markets Set to Open Higher on US Tariff Relief

As European equity markets prepared for a robust opening on Monday, the mood was buoyed by US President Donald Trump’s announcement of exemptions for essential technology products from newly imposed "reciprocal" tariffs, enhancing global investor confidence. However, Trump underscored that the exempted items—such as smartphones, computers, and semiconductors—are still subject to the prevailing 20% Fentanyl Tariffs. US Commerce Secretary Howard Lutnick added to the complexity by indicating that these imports might encounter additional levies within the upcoming two months, thereby maintaining a cloud of trade uncertainty. Concurrently, in Europe, investors are keenly eyeing the first-quarter revenue figures from French luxury giant LVMH, which may shed light on consumer behavior and demand resilience. Notably, there are no significant economic data releases planned for the region today. Early trading activity saw futures for the Euro Stoxx 50 and Stoxx 600 rise by over 2%, indicating a potential broad-based rally at the market's opening.