FX.co ★ European Markets Poised for Modest Gains

European equity markets were poised for a modest rise at the opening bell on Wednesday, as investors considered the latest tariff announcements emanating from Washington. U.S. President Donald Trump confirmed that there would be no extensions to the new duties targeting 14 countries, which are set to come into effect on August 1. Additionally, he announced a 50% tariff on copper imports and suggested that tariffs on pharmaceutical imports could reach as high as 200%. However, these latter measures would be delayed for a period of 12 to 18 months to allow the industry time to adjust. Meanwhile, market players are keenly monitoring developments regarding a potential U.S.-EU trade deal, amid growing speculation that an agreement could be on the horizon. In premarket trading, futures for the Euro Stoxx 50 and Stoxx 600 rose by 0.2% and 0.1%, respectively.