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.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq each retreated by about 0.3% early Monday.

US inflation heated back up in June, rising to its highest level in four months, as price increases — including those from tariffs — packed a bigger punch.

President Donald Trump and his supporters point to encouraging economic indicators to argue that concerns about his tariffs are overblown. Skeptics, however, say it’s too soon to declare that all’s well.

Nasdaq edges higher after president's latest tariff threats