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European stock markets opened in the red on Tuesday despite a Wall Street rally on Monday, when US President Donald Trump offered reassurances about Washington’s relationship with Beijing.
Despite the president’s remarks, investor sentiment remains shaky as the world’s two largest economies butt heads over trade.
Both nations will place fees on each other’s ships on Tuesday, following a US investigation into China’s growing dominance in world shipbuilding. Washington will impose a fee of $50 per tonne (€43.27) of cargo on Chinese vessels in American ports, while China will charge 400 yuan (€48.65) per tonne, a levy that will steadily increase.
Also on Tuesday, Beijing imposed sanctions on five US-linked subsidiaries of the South Korean shipbuilder Hanwha Ocean as it seeks to assert its maritime dominance.
While the status of trade…
