European equity markets were set to open lower on Wednesday, retreating from part of the previous session’s gains as investors weighed proposed new US tariffs. The US Trade Representative has outlined plans for tariffs of up to 12.5% on imports from 60 trading partners, including the European Union, citing alleged failures to prohibit goods produced with forced labor.
Market participants were also monitoring the escalating US–Iran standoff after tensions rose overnight, with Washington accusing Tehran of launching new attacks despite an existing ceasefire.
On the economic calendar, investors are awaiting PMI releases across the region, as well as Russia’s unemployment and business confidence data, EU producer price index (PPI) figures, and Austria’s GDP report. In premarket trading, futures on both the Euro Stoxx 50 and the Stoxx 600 were down 0.3%.
