Erika Herskowitz

Italian fashion designer Valentino Garavani, who achieved global prominence in the 1960s dressing former U.S.

First Lady Jacqueline Kennedy, died Sunday in Rome.

A designer for five decades, Valentino was a phenomenon in the fashion industry, styling royalty to Hollywood stars, including Elizabeth Taylor and Julia Roberts.

After selling his Valentino label in 1998 for $300 million, he continued designing for the brand until his retirement in 2008.

Valentino was 93 years old.

Erica Herskowitz, Bloomberg Radio.

News when you want it with Bloomberg News Now, I'm Erika Herskowitz.

German Chancellor Friedrich Merz said he's trying to persuade French President Emmanuel Macron to tone down his response to President Trump's latest threat to slap new tariffs on European allies.

Macron intends to request the activation of the European Union's so-called anti-coercion instrument, Bloomberg reported over the weekend.

But Merz said that Germany's heavier dependence on exports means it's less willing to unleash the bloc's strongest countermeasure.

European leaders are reeling from Trump's threat to impose tariffs on eight European NATO allies for pushing back against the president's bid to annex Greenland, which effectively rips up last year's EU-U.S.

trade accord leaders hoped would stabilize the transatlantic relationship.

The NATO countries had said they would undertake token military planning exercises in the semi-autonomous Danish territory, which is considered strategically important for the balance of power in the Arctic region coveted by Russia and China.

British Prime Minister Keir Starmer says the UK is coordinating closely with EU on Trump tariff threats.

British Prime Minister Keir Starmer.

Meanwhile, Bloomberg's Brendan Murray says countries are already starting to look elsewhere for trade partners.

Bloomberg's Brendan Murray.

Trump's latest tariff announcement has sent European shares tumbling from a near record high.

The FTSE in London lost a third of a percent.

The CAC in Paris fell one and three quarters percent.