Trade jitters send European shares to two-week low

(For a live blog on European stocks, type LIVE/ in an Eikonnews window)

LONDON, March 22 (Reuters) - Concerns around trade tariffssent European shares tumbling to a two-week low on Thursday asthe U.S. prepared to announce hefty tariffs on Chinese imports.

U.S. President Trump is expected to sign a presidentialmemorandum on tariffs targeting $60 billion of Chinese imports,at 1630 GMT.

Investors were also eyeing a European Council meeting, withthe European Union aiming to secure an exemption from U.S.tariffs on steel and aluminium imports set to come into force onFriday.

The pan-European STOXX 600 index was down 0.4percent by 0825 GMT, while Germany's exporter- andindustrials-heavy DAX fell 0.5 percent.

Tech stocks were the worst hit, down 1 percent astariffs on China were expected to target the high-tech sector.

Investors were also awaiting the Bank of England’s ratedecision and policy meeting after the U.S. Fed surprised marketwatchers with less hawkish rate guidance.

Bank stocks, which benefit from a stronger pace ofrate hikes, slipped, with HSBC, ING and UBSamong top fallers

Earnings and merger developments continued to drive Europeanstocks.

Reckitt Benckiser shares shone, jumping 6 percentafter the British consumer products firm pulled out of thebidding for Pfizer's consumer health unit. The movereflected relief in the market that Reckitt would avoidover-levering or issuing shares for the acquisition.

GlaxoSmithKline, now seen as having a better chanceof buying the Pfizer business, declined 1 percent.

The world’s no.2 cement maker Heidelberg Cementfell 1.8 percent, one of the worst declines on the DAX, afterits payout fell slightly short of analysts’ averageexpectations.

United Internet dropped 8.2 percent to the bottomof the STOXX after its 2017 results. It was the worst-performingtech stock.

Shares in Svenska Handelsbanken tumbled 8.5percent as it traded ex-dividend.(Reporting by Helen Reid, Editing by Kit Rees)