European equity markets were set for a weaker open on Monday as renewed tariff uncertainty weighed on risk sentiment. On Saturday, US President Donald Trump said he would raise the newly announced 10% global levy to 15%, a day after unveiling it, following the US Supreme Court’s decision to strike down his broad reciprocal tariff measures. In response, the European Parliament’s trade chief said he would propose suspending the ratification process of a trade agreement with the US until there is greater clarity on Trump’s trade agenda. Still, senior US officials signaled that existing trade arrangements with key partners, including China, the EU, Japan and South Korea, would remain in place.
On the data front, investors will focus on Germany’s February Ifo Business Climate survey and Italy’s final inflation figures for January. No major corporate earnings releases are expected in Europe on Monday. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were down 0.5% and 0.4%, respectively.
