European Shares Pare Drop as Mexican Tariffs Delayed for a Month

European stocks trimmed earlier declines after Mexican President Claudia Sheinbaum said tariffs imposed by the US would be delayed for one month after a conversation with Donald Trump.

The Stoxx Europe 600 Index fell 0.9% by the close in London, paring an earlier drop of as much as 1.6%. Auto stocks, which are heavily exposed to import tariffs, led the retreat, while telecoms outperformed. Trump announced levies on Canada, Mexico and China at the weekend, and promised to make similar moves against the European Union. He confirmed the delay to Mexico’s tariffs in a post on Truth Social.