US Stock Futures Dip as Trump Unveils Global Tariff Plan, Canada Hit Hardest
Futures tied to major US indices declined as the WHITE House rolled out sweeping tariff measures. The Dow Jones Industrial Average (YM=F) slipped 0.2%, while the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) fell 0.2% and 0.4% respectively.
A new baseline 10% tariff will apply to all US trade partners, with surplus nations facing 15% rates. Over 70 specific countries received customized tariffs ranging from 15% to 40%, effective in seven days. Canada faces an immediate jump from 25% to 35% tariffs starting Friday.
Mexico secured a 90-day reprieve from new tariffs, while most nations face imminent levies after failing to meet Trump's August 1 negotiation deadline. The moves threaten to reshape global trade flows as markets digest the potential economic Ripple effects.
