March S&P 500 E-Mini futures (ESH26) are down -0.48%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.65% this morning, pointing to a lower open on Wall Street as heightened uncertainty about U.S. trade policy dampened sentiment.
U.S. President Donald Trump on Saturday said he would raise global tariffs to 15% from 10%, a day after the Supreme Court struck down his “reciprocal” tariffs. “I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump said in a Truth Social post. Notably, the 15% global tariffs are imposed under Section 122 of the 1974 Trade Act and are permitted to remain in effect for 150 days. Mr. Trump also cautioned that additional tariffs would follow. Uncertainty surrounding U.S. trade policy is adding another layer of complexity to markets already unsettled by concerns over AI disruption and U.S.-Iran tensions.
