September S&P 500 E-Mini futures (ESU25) are up +0.08%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.17% this morning as initial jitters over U.S. President Donald Trump’s latest tariff moves eased, giving way to cautious optimism that there’s still ample room for further negotiations.
President Trump began sending letters to global trading partners on Monday, notifying them of new tariff rates if trade agreements aren’t reached. Japan and South Korea were both subjected to 25% tariffs, South Africa faced a 30% rate, and Laos and Myanmar were hit with 40% duties. In total, 14 countries have received letters regarding new tariffs, and the White House stated that more letters will be sent out throughout the week.
