March S&P 500 E-Mini futures (ESH25) are down -0.49%, and March Nasdaq 100 E-Mini futures (NQH25) are down -0.63% this morning, pointing to further losses on Wall Street as concerns over global trade tensions weighed on sentiment.
Investors are weighing whether the new U.S. tariffs could trigger a full-scale trade war. U.S. President Donald Trump’s 25% tariffs on imports from Mexico and Canada took effect at midnight New York time today, alongside a doubling of duties on Chinese goods to 20%. In response, Canada announced a broad set of tariffs, while China retaliated by imposing duties of up to 15% on certain U.S. exports. Also, Trump stated on Monday that the U.S. would impose tariffs on “external” agricultural products beginning April 2nd. Investors will closely monitor his address to Congress later today for insights into potential next steps.
