Stocks closed lower Monday as President Donald Trump once again ratcheted up the trade tensions that sent indices tumbling when he first announced widespread tariff plans in April.
The slide started after Trump posted letters on his social media platform, Truth Social, that he says he sent to Japanese and Korean officials threatening them with 25% tariffs on goods being imported to the U.S. beginning Aug. 1. The countries can still reach a deal with his administration before then that could avoid those rates.
