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%.
After Wall Street previously downplayed risks from President Donald Trump's trade war, investors are starting to take his tariff threats more seriously.
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.
President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.