US Stock Market LIVE updates: Stock futures are slightly higher as Trump suggests cutting tariff on China to 80%
Published on 09/05/2025 05:57 PM
European leaders presented a united front in the US trade war on Friday, with German Chancellor Friedrich Merz saying individual member states won’t strike side deals and European Commission President Ursula von der Leyen indicating that a concrete proposal is needed for any serious talks with Washington.
The comments underscore the EU’s strategy to stay together and speak with one voice as US President Donald Trump uses the threat of steep tariff hikes to persuade countries to sign bilateral trade deals that would be advantageous to the US. While Trump hailed such a pact with the UK this week as a breakthrough that would open the door to others, there’s been little progress with the EU, which is planning to strike back with counter-tariffs if no compromise can be reached.
European stocks had a positive start to Friday’s trading session, after the U.K. and U.S. confirmed a trade agreement and as investors looked ahead to U.S.-China trade negotiations set to begin this weekend.
The pan-European Stoxx Europe 600 index was 0.4% higher by 9:41 a.m. in London. The U.K.’s FTSE 100 gained 0.4%, while Germany’s DAX and France’s CAC 40 each gained more than 0.5%.
US President Donald Trump floated an 80% tariff on China ahead of negotiations due to begin Saturday as he urged Beijing to do more to open their markets to US goods.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a social-media post Friday morning, referring to Treasury Secretary Scott Bessent.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!,” he said in a separate post.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.