Trump has broadened his trade war in recent days, setting new tariffs on a number of countries along with a 50% tariff on copper. Among sectors, European personal and household goods fell 1%, while healthcare stocks declined 0.7%. Defence stocks were up 0.6%.

The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.

In a wide-ranging interview with NBC News, Trump talked about tariffs, sending Patriot missiles to NATO for Ukraine and how he'll sell his recently passed "big, beautiful bill."

Markets hit record highs despite new Trump tariffs on Canada, Brazil, and EU. Earnings season begins, with volatility ticking up and investors watching guidance closely.

By Sukriti Gupta, Sanchayaita Roy and Shashwat Chauhan (Reuters) -European shares closed lower on Friday, as losses in banks and healthcare stocks weighed at the end of a week marred by U.S. President Donald Trump's tariff announcements,

Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”

"The EU and China are broadly on a colliding trajectory in terms of their trade and industrial policy concerns," he told CNBC. Bones of contention include the challenge of China's overcapacity and trade diversion to Europe, Stec, who is also head of the Mercator Institute's Brussels office, explained.

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.