German Chancellor Friedrich Merz said that Trump’s threat of 30% tariffs on goods from the European Union would hit the German export industry “to the core,” and vowed to work toward a solution.

U.S. stock futures fell Sunday, a day after President Donald Trump threatened to impose new 30% tariffs against imports from Mexico and the European Union.

Financial markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30% rate for the European Union and Mexico effective Aug.

Mexico and Europe are grappling with how to respond to a U.S. administration that is using trade policy for a range of political and economic objectives.

If a 30 percent tariff on Mexico goes into affect on August 1, a wide variety of foods will be more expensive, experts warn.

President Donald Trump released two tariff letters on Saturday, imposing duties of 30% on products from Mexico and the European Union.

America’s biggest trading partners have tried tactics ranging from appeasement to retaliation to avoid higher tariffs. All find themselves faced with similar threats from Washington.

Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.