European Shares Poised For Lower Open Amid Tariff Uncertainty

(RTTNews) - European stocks may open on a sluggish note Thursday as investors grapple with U.S. President Donald Trump's inconsistent stances on tariffs.

A day after Trump signaled a possible shift in his trade war with China, White House Press Secretary Karoline Leavitt said in an interview with Fox News that there will be no unilateral reduction in tariffs on goods imported from China.

Treasury Secretary Scott Bessent also clarified that such a move would not come unilaterally and there was no timeframe for engagement, casting doubt on a timely resolution to the trade war.

He also noted that there are multiple factors with regard to China beyond just tariffs and that a full rebalancing of trade might take two to three years.

Adding to tariff-related concerns, NHK reported that the U.S. told Japan's trade delegation that it cannot give Japan special treatment regarding its tariff measures during talks held earlier this month.

Asian markets were mixed in cautious trade, contrasting with Wall Street's strong overnight gains on hopes for easing trade tensions.

The dollar weakened after a brief rebound, while gold bounced back, rising more than 1 percent after hitting a one-week low in the previous session.

Oil held steady after falling 2 percent on Wednesday amid discussions of potential OPEC+ output increases.

In economic releases, U.S. reports on weekly jobless claims, durable goods orders and existing home sales may attract attention later in the session.

The German Ifo index is due, with decline in business morale for April expected. Consumer sentiment survey results from France and Britain are also due.

U.S. stocks rallied overnight, the dollar gained, and safe-haven gold plunged after Treasury Secretary Scott Bessent said that both the U.S. and China have the chance to make "a big deal" on trade. "If they want to rebalance, let's do it together," Bessent said.

The tech-heavy Nasdaq Composite ended 2.5 percent higher after surging as much as 4.5 percent earlier. The S&P 500 jumped 1.7 percent and the Dow climbed 1.1 percent.

European stocks closed Wednesday's session on a buoyant note as Trump softened his stance towards the Fed chairman and signaled China tariffs will come down.

The pan European STOXX 600 gained 1.8 percent to hit a three-week high. The German DAX rallied 3.1 percent, France's CAC 40 surged 2.1 percent and the U.K.'s FTSE 100 added 0.9 percent.