US pre-open: Futures lower as Trump slaps tariffs on the EU, Mexico
By Iain Gilbert
Date: Monday 14 Jul 2025
(Sharecast News) - Wall Street futures were in the red prior to the open on Monday as traders continued to monitor trade headlines ahead of key inflation data and the beginning of Q2 earnings season.
As of 1230 BST, Dow Jones futures were down 0.30%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.26% and 0.25% weaker, respectively.
The Dow closed 279.13 points lower on Friday after Donald Trump announced he would be slapping a 35% tariff on imports coming from Canada.
Following his Canadian tariffs announcement, Donald Trump later revealed that he will impose a 30% tariff on both the European Union and Mexico, starting on 1 August. Leaders of the EU and Mexico indicated they intend to keep talking with the Trump administration this month in an attempt to agree on a lower rate.
Rostro's Joshua Mahony said: "Donald Trump has once again done his best to dampen market sentiment, with mainland European stocks in the red and their US counterparts likely to follow suit. This comes after Trump's tariffs letters reached the EU (30%) and Mexico (30%), building on the 35% tax announced for Canadian imports last week. We now have less than three-weeks until the 1 August deadline comes into play, and the EU are already warning of a prospective €21.0bn worth of goods that they would target in return. Nonetheless, there is a clear desire to strike a deal, even if that means keeping the 10% tariff and seeking concessions on the sector specific taxes on the likes of the auto sector."
No major data points were scheduled for release on Monday, with investors looking ahead to June's consumer price index reading on Tuesday
Things were much the same in the corporate space, with JPMorgan Chase, Wells Fargo and Citigroup set to kick off Q2 earnings season on Tuesday, while Johnson & Johnson, Bank of America, Goldman Sachs, Morgan Stanley and United Airlines will follow on Wednesday.
Reporting by Iain Gilbert at Sharecast.com
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