European equity markets were poised for a lower open on Friday, as investor caution grew ahead of next week’s deadline for potential US tariff hikes.
Sentiment took a hit after President Donald Trump announced plans to begin issuing letters on trade matters, potentially setting unilateral tariff rates and escalating trade uncertainty.
The European Union said it is nearing a “framework” trade agreement with the US, but acknowledged that a comprehensive deal is unlikely to be reached by the July 9 deadline.
In corporate news, Air France-KLM announced plans to acquire a majority stake in Scandinavian carrier SAS, signaling continued consolidation in the European aviation sector.
In premarket trade, Euro Stoxx 50 futures were down 0.5%, while Stoxx 600 futures slipped 0.4%.