Trump announces 30% tariffs on Mexico, EU
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S&P 500 futures lost 0.5%, while Nasdaq 100 futures dropped 0.6%. Futures for the Dow Jones Industrial Average fell 204 points, or 0.5%.
President Donald Trump released two tariff letters on Saturday, imposing duties of 30% on products from Mexico and the European Union.
U.S. President Donald Trump announced plans to impose new 30% tariffs on Mexico and the European Union effective from Aug. 1, launching the latest salvo in his ongoing trade war.
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President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.
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The European Union has decided to hold off on imposing retaliatory tariffs on U.S. goods that were set to begin Monday.