Global markets were skittish on Monday after President Donald Trump threatened new 30% tariffs on imports from the EU and Mexico as of August 1. Although investors by now are accustomed to tariff talk,

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Economists had already downgraded growth for the European Union, and the new duties would hit industries there especially hard. Companies are looking for ways to blunt the impact.