EU Prepared to React Proportionately to Trump's Tariff Plans, Top Official States

European stock markets saw modest increases against a backdrop of economic uncertainty and the looming threat of trade tariffs from the new Trump administration. Valdis Dombrovskis, the European Union's Commissioner for the Economy, assured that Europe would react "in a proportionate way" to any US tariffs. To address potential trade measures by President Trump, the Indian government is exploring options such as cutting tariffs and boosting imports from the US. President Trump disclosed intentions to impose a 25% tariff on Mexico and Canada, alongside warning of tariffs targeting BRICS countries.