Frankfurt’s DAX attempted a brief recovery but closed 0.2% lower at 24,048 on Wednesday, the fifth straight session of losses, weighed down by ongoing trade uncertainty and weak corporate earnings from European firms. While investors hoped for a more favorable tariff agreement than previously outlined, President Trump renewed his threat to extend tariffs to pharmaceuticals and semiconductors - possibly as soon as August 1, the deadline for implementing his 'reciprocal' tax policy. Meanwhile, EU Trade Commissioner Maros Sefcovic is traveling to Washington today for a new round of talks on the 30% tariff imposed by the US. If negotiations fail, the EU has prepared countermeasures targeting $72.1 billion in American imports, including whiskey, Boeing aircraft and parts, beef, and auto components. Automakers were among the hardest hit, with Volkswagen falling 3.7%, Porsche AG down 3%, and Mercedes-Benz Group losing 1.9%.