Frankfurt’s DAX edged higher at the open on Thursday but leveled off near 23,930 as newly imposed US tariffs came into force and corporate earnings took center stage. The "reciprocal" measures, now in effect, target nearly all major trading partners, including the European Union, which faces a 15% rate. Germany’s export-reliant economy is under growing pressure from US tariffs. In June 2025, the trade surplus narrowed more than expected, industrial production fell to its lowest level since 2020, and factory orders posted a surprise second consecutive monthly decline, according to the latest data. On the business front, Allianz gained 3.6% on an earnings beat, and Henkel rose 2.5% after lifting its profit forecast. Siemens was flat as results disappointed, while Deutsche Telekom fell over 5% and Rheinmetall lost more than 6% on weaker-than-expected figures.