HONG KONG - European markets mostly fell on Monday while Asia was mixed as investors digested Donald Trump's latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 percent tariffs.
The US president's outburst came after a series of announcements last week including warnings of 50 percent levies on copper and Brazilian goods, 35 percent on Canadian goods, and a possible 200 percent charge on pharmaceuticals.
While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House's August 1 deadline.
In announcing his latest measures on Saturday, Trump cited Mexico's role in illicit drugs flowing into the United States and a trade imbalance with the European Union.
The move threw months of painstaking talks with Brussels into disarray.
European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord -- and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.
Shares fell in Frankfurt and Paris, though London ticked higher.
In Asia, Hong Kong, Shanghai, Seoul, Singapore, Manila, Bangkok and Jakarta all rose, while Tokyo, Sydney, Taipei, Mumbai and Wellington edged down.
Bitcoin hit a new record high of $123,205.