The CAC 40 slipped 0.3% to close at 7,808 on Monday, extending Friday’s retreat as President Trump’s weekend threat of a 30% tariff on EU and Mexican imports, on top of existing duties on Canada, rekindled trade-war anxieties. In Brussels, Trade Commissioner Maros Sefcovic unveiled a proposal for €72 billion of countermeasures and extended the suspension of existing tariffs until early August, while EU ministers convene today to finalize their response. Europe’s auto sector led sectoral losses with STellantis shedding 1.9%, while luxury mega-caps remained under pressure with LVMH down 1.7%, Hermes off 1.1%, and Kering losing 0.9%. Defense stocks bucked the trend after President Macron pledged an extra €6.5 billion in military spending, lifting Thales 1.4%.