Trump's Tariff Impact on Global Markets, European Stocks Open Higher with Rising Expectations, Trade Patterns May Face New Uncertainties

On February 24, European stock markets are expected to open flat to slightly higher as market participants reassess the potential impact of Trump’s latest tariff policies on the global trade system and risk assets. Data shows that the UK FTSE 100 is expected to open roughly unchanged, Germany’s DAX and France’s CAC 40 are forecasted to rise about 0.25%, and Italy’s FTSE MIB is approaching a 0.3% increase, indicating a cautious optimism amid uncertainty.

Earlier on Monday, European regional stocks generally declined, mainly due to investors’ quick reaction to Trump’s announcement of a 15% uniform tariff on imported goods. This policy is seen as a significant signal of tightening global trade conditions and has heightened concerns over escalating cross-border trade tensions. European officials have publicly expressed concern and hinted that this move could disrupt the EU-U.S. trade cooperation framework. Subsequently, the European Parliament announced a suspension of the approval process for the U.S.-EU trade agreement reached last summer, further complicating trade prospects.

The U.S. markets also experienced significant volatility due to the combined impact of the tariff policy and expectations of disruptions in the artificial intelligence sector. Trump reiterated that he has room to increase tariffs and warned that if some countries adopt “countermeasures,” more tariff tools could be introduced in the coming months. This statement has increased global macro uncertainty and prompted more defensive capital allocation.

Regionally, Asia-Pacific markets showed mixed performance on Tuesday, reflecting ongoing investor debates over the risks of U.S. tariff escalation and global economic slowdown. Meanwhile, corporate fundamentals remain a focus, with earnings reports from companies like Standard Chartered, Leonardo, Telecom Italia, and Fresenius Medical Care being released sequentially. The release of macro data such as the French business confidence index will also influence European stock trends.

Against the backdrop of tariff policy uncertainty, reshaping global trade patterns, and increased volatility in risk assets, European market opening expectations, the impact of global tariff policies, and cross-market capital flows are becoming key variables for macro investors to monitor in 2026.