Policymakers in the European Union, aware of Mexico’s vital role in the global automotive supply chain, attempted to shield carmakers from some of Trump's threats by overhauling the bloc's trade agreement with Mexico in January, giving European vehicle manufacturers favorable export rates into the country.
An index of aerospace and defence companies was up 0.8% to new record high at 1224 GMT, an outlier in a sea of red, with region-wide STOXX 600 dropping 1.4%, as U.S. tariffs on Canada, Mexico and China took effect.