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Trump’s 30% Tariffs Push U.S. Futures Lower Ahead of Earnings Season

Investor attention shifts toward bank earnings, June inflation figures under the renewed U.S. trade threat.

Shipping containers and cranes at Hamburg Port in Germany in April. President Donald Trump has threatened a 30% tariff on incoming European products.
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FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 11, 2025. REUTERS/Jeenah Moon/File Photo

Overview

  • The president announced a 30% levy on EU and Mexican imports effective August 1, prompting a roughly 0.5% slide in Dow, S&P and Nasdaq futures.
  • Leaders of the EU and Mexico extended suspensions of countermeasures into early August and expressed intent to seek a negotiated settlement.
  • U.S. equity indexes held near record levels on Monday, suggesting investors have grown more immune to the latest tariff threats.
  • Second-quarter earnings kick off Tuesday with major banks including JPMorgan Chase, Wells Fargo and Citigroup under scrutiny.
  • Market participants are bracing for June consumer and producer price data and watching White House scrutiny of Federal Reserve Chair Jerome Powell.