European stocks opened higher Tuesday after U.S. President Donald Trump told CNBC that immediate tariffs would be imposed on a further $300 billion of Chinese goods if President Xi does not attend this month’s G-20 meeting.
The pan-European Stoxx 600 rose 0.2% in the opening minutes of trading, basic resources jumping 1.7% while autos also climbed 1.3%. Food and beverages stocks dropped 0.3% in early deals.
Trump is set to meet with Xi at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. The leaders of 19 nations and the European Union are expected to attend, as trade tensions approach boiling point worldwide.
Source : CNBC