Brussels: European stocks closed the first trading day of the week mostly with losses after US President Donald Trump raised his new global tariffs to 15% and the European Parliament suspended its work on approving the EU-US trade deal. The pan-European Stoxx Europe 600 index fell 0.45%, or 2.86 points, to close at 627.7.

According to Anadolu Agency, Germany's DAX 40 was down 1.06% to 24,991.97 points, while the UK's FTSE 100 index lost 0.02% to 10,684.74. France's CAC 40 index dropped 0.22% to 8,497.17 points. On the other hand, Italy's FTSE MIB rose 0.49% to end at 46,699.29, and Spain's IBEX 35 gained 0.56% to 18,288.7.

Markets reacted negatively to the new tariffs imposed by Trump. The president said over the weekend that he would now introduce a new, blanket 15% global levy, up from 10%. The new tariffs are 'effective immediately,' Trump said in a Truth Social post. He also warned Saturday that additional levies would follow.

On Monday, Trump threatened to impose steeper tariffs on countries that "play games" after the Supreme Court verdict. The European Parliament on Monday also suspended its work on approving a EU-US trade deal following the renewed tariff threats. Bernd Lange, chair of the EP's trade committee, said on US social media platform X that work on the agreement would be suspended until further notice.

The euro/dollar exchange rate rose 0.1% to 1.1794 as of 1745GMT.