September S&P 500 E-Mini futures (ESU25) are trending down -0.01% this morning as investors await the U.S. ADP employment report and monitor developments in trade talks ahead of President Donald Trump’s July 9th deadline.
As the U.S. continues talks with major trading partners, President Trump has increased pressure on Japan and reiterated that he won’t extend his tariff deadline. Trump threatened to raise tariffs on Japan to “30%, 35% or whatever the number is that we determine, because we also have a very big trade deficit with Japan” — well above the 24% tariff rate he announced on April 2nd. Reuters reported that the Trump administration plans to prioritize securing trade deals with countries such as India before Japan in the days leading up to the July 9th deadline.
