The introduction of new tariffs by the United States on products from Canada, Mexico, and China has negatively impacted European stock markets, while the Russian markets have seen benefits from this new policy. In Frankfurt, the stock market saw a decline of 1.56%, while the Paris index dropped by 1.11%, and the London exchange fell by 0.53%. Conversely, the Russian ruble appreciated against the US dollar, with one dollar valued at 89 rubles. This recovery follows a series of four consecutive devaluations, fueled by market optimism over potential easing of US sanctions on Russia. Analysts have pointed out that the tariff threats have materialized into actual policy changes. The US recently imposed a 25% tariff on all goods from Canada and Mexico, a decision that had been temporarily suspended for 30 days after its announcement earlier in February. Meanwhile, tariffs on Chinese imports, which were previously set at 10%, have been raised to 20%. In response to the US tariffs, the Chinese government has announced its own tariffs on American agricultural products. Similarly, Canadian Prime Minister Justin Trudeau indicated that Canada would impose a 25% tariff on US goods shortly before the US tariffs took effect. Concerns are growing regarding the potential for reciprocal tariffs from President Trump against additional trading partners. Analysts suggest that the European Union may also face US tariffs, with French Minister of Economy Eric Lombard emphasizing the need for the EU to negotiate firmly to protect its economies. Despite the negative impact on European stock markets, several defense contractors in the region have reported gains. Companies such as Rheinmetall and Hensoldt saw increases of 1.97% and 15.63%, respectively, while Thyssenkrupp rose by 1.02%. French defense firm Thales experienced a 9.45% jump, and BAE Systems from the UK gained 1.74%. Asian markets reacted variably to the news. The Hong Kong index fell by 0.2%, while the Shanghai exchange rose by 0.22%. Japan's Nikkei index recorded a decline of 1.20%. In Russia, stock markets are reportedly benefiting from discussions within the US government regarding possible sanctions relief, as President Trump seeks to rekindle relations with Russia and end the conflict in Ukraine. However, the ruble faced a 0.9% decline against the yuan, which remains the most traded currency in Russia, hindered by falling oil prices. Brent crude oil, a key export for Russia, dropped by 1.3% to $70.55 per barrel, following OPEC+'s decision to proceed with a planned increase in oil production for April. President Trump has previously exerted pressure on OPEC and Saudi Arabia to lower prices, complicating the situation for Russian markets, especially as Russia is not an OPEC member and is part of the extended cooperation framework of OPEC+.