周三，随着特朗普总统的全面关税计划生效，包括对欧盟商品征收20%的税，欧洲市场有望大幅下跌。作为回应，据报道，欧盟委员会正在考虑对价值超过220亿欧元的美国农产品和工业出口征收高达25%的报复性关税。市场担心，不断升级的贸易战可能会使全球经济陷入衰退，导致风险资产普遍抛售。在盘前交易中，欧洲斯托克50指数和斯托克600指数期货均下跌约4%。

European markets were poised to open sharply lower Wednesday as President Trump’s sweeping tariff package came into force, including a 20% levy on EU goods. In response, the European Commission is reportedly weighing retaliatory tariffs of up to 25% on over €22 billion worth of U.S. agricultural and industrial exports. Markets are fearful that an escalating trade war could tilt the global economy into a recession, causing a widespread selloff in risk assets. In premarket trading, futures for the Euro Stoxx 50 and Stoxx 600 were both down roughly 4%.

欧洲股市周二反弹，此前因美国关税担忧引发了疫情以来最严重的四天跌幅。斯托克50指数上涨2.5%，斯托克600指数上涨超过3%，创下2022年以来的最佳单日表现。金融、工业和国防类股领涨，而电信类股则落后。在特朗普总统4月2日宣布关税后，该地区基准指数大幅下跌，约17亿美元被抹去，随后出现反弹。尽管经济复苏，但贸易紧张局势仍然加剧。欧盟官员表示，他们已准备好采取广泛的反制措施，包括可能的数字税，并警告称将对部分美国商品征收25%的关税。特朗普拒绝了拟议的“零对零”工业关税协议，使紧张局势居高不下。与此同时，中国重申了其报复的承诺。在企业新闻方面，英飞凌在宣布以25亿美元收购Marvell汽车部门后上涨。

European stocks bounced back on Tuesday after their worst four-day slide since the pandemic, triggered by US tariff fears. The Stoxx 50 rose 2.5% and the STOXX 600 gained over 3%, heading for their best day since 2022. Gains were broad-based, led by financials, industrials, and defense stocks, while telecoms lagged. The rebound followed steep losses after President Trump’s April 2 tariff announcement, which erased around $1.7 billion from the region’s benchmark index. Despite the recovery, trade tensions remained elevated. EU officials signaled they’re ready to hit back with a wide range of countermeasures, including possible digital taxes, and warned of 25% tariffs on select US goods. A proposed “zero-for-zero” industrial tariff deal was rejected by Trump, keeping tensions high. Meanwhile, China reaffirmed its commitment to retaliate. In corporate news, Infineon rose after announcing a $2.5 billion deal to acquire Marvell’s automotive unit.

欧元徘徊在1.09美元上方，投资者停下来等待欧盟计划如何应对美国关税的更明确信号。此前，在贸易紧张局势升级和对全球增长的担忧加深的情况下，风险较高的货币更广泛地退出，导致连续两个交易日下跌。周一，欧盟委员会透露，它已向特朗普政府提出了一项零对零关税协议，以避免贸易战，欧盟部长们同意优先考虑谈判。然而，华盛顿拒绝了这一提议。与此同时，它还提议对一系列美国商品征收25%的反关税，以回应唐纳德·特朗普总统上个月对钢铁和铝征税的决定。在其他地方，北京发誓不会屈服于它所说的美国“勒索”，此前特朗普总统威胁称，除非中国在周二之前撤销报复措施，否则将对中国商品征收额外50%的关税。

The euro hovered just above $1.09 as investors paused to await clearer signals on how the EU plans to respond to U.S. tariffs. This came after two consecutive sessions of declines, fueled by a broader retreat from riskier currencies amid escalating trade tensions and deepening concerns over global growth. On Monday, the European Commission revealed it had proposed a zero-for-zero tariff deal to the Trump administration in a bid to avert a trade war, with EU ministers agreeing to prioritize negotiations. However, the offer was rejected by Washington. Meanwhile, it has also proposed counter-tariffs of 25% on a range of U.S. goods, in response to President Donald Trump’s decision last month to impose levies on steel and aluminum. Elsewhere, Beijing vowed not to bow to what it described as U.S. "blackmail," after President Trump threatened to slap an additional 50% tariff on Chinese goods unless China rolled back its retaliatory measures by Tuesday.

欧洲主要股市周二反弹，结束了连续四天的下跌。STOXX 50指数上涨1.7%，STOXX 600指数上涨1.5%，此前周一的大幅抛售分别将其推至8个月和14个月低点。贸易紧张局势仍在加剧，欧盟委员会主席乌尔苏拉·冯德莱恩证实，欧盟已向特朗普提出了一项针对工业品的“零对零关税”协议，但特朗普拒绝了这一提议。她警告称，欧盟已准备好进行报复，有报道称，欧盟正准备对部分美国商品征收25%的关税。与此同时，中国誓言要“战斗到底”。几乎所有行业的股价都上涨了。在企业方面，LVMH（+2.3%）、爱马仕（+2%）、ASML（+2.9%）、阿斯利康（+1.4%）和欧莱雅（+1.4%.）均录得强劲涨幅。

Major European bourses rebounded on Tuesday, snapping a four-day losing streak. The STOXX 50 rose 1.7% and the STOXX 600 gained 1.5%, after Monday’s sharp sell-off pushed them to 8-month and 14-month lows, respectively. Trade tensions remained elevated, with European Commission President Ursula von der Leyen confirming that the EU had offered Trump a “zero-for-zero tariffs” deal on industrial goods, an offer he rejected. She warned that the bloc is ready to retaliate, and reports indicated the EU is preparing to impose 25% tariffs on select US goods. Meanwhile, China vowed to “fight to the end.”Nearly all sectors traded higher. On the corporate front, LVMH (+2.3%), Hermès (+2%), ASML (+2.9%), AstraZeneca (+1.4%), and L'Oréal (+1.4%) posted strong gains.