Wall Street opens lower after Trump announces new tariffs

NEW YORK, New York.- This Monday, the day on Wall Street began with losses , after the President of the United States , Donald Trump , announced this weekend that he will impose a 30% tariff on products from the European Union (EU) and Mexico , which will come into effect on August 1 , in a new escalation with respect to previous announcements.

Ten minutes after the opening of the New York Stock Exchange , the Dow Jones fell 0.06% to 44,346.98 points, the The S&P 500 fell 0.14% to 6,250 points, and the Nasdaq fell 0.11% to 20,563 points.

These new tariffs would replace the so-called 20% reciprocal tariffs the US threatened the EU with on April 2 and the 25% tariff on Mexican products that do not comply with the US-Mexico-Canada free trade agreement .

Trump said he would consider reducing tariffs if the EU offers “ full and open access to the U.S. market , without tariffs,” and if Mexico steps up its fight against drug cartels , which he said were trying to turn “all of North America into a playground for drug trafficking.”

The president announced the new tariff rates in very similar letters addressed to the president of the European Commission, Ursula von der Leyen , and the president of Mexico, Claudia Sheinbaum Pardo , which he published on his social network Truth Social .

In both letters, Trump stated that if the European bloc or Mexico retaliate with higher tariffs on the US, "the amount they decide to increase will be added to the 30%."

The Republican also gave trading partners in the Old Continent and Mexico the opportunity to completely avoid tariffs if they choose to manufacture products in the United States.

The technology sector (-0.78%) and energy sector (-0.67%) opened with the largest declines, while the largest increases were in the real estate sector (0.43%) and communications sector (0.39%).

Among the 30 Dow Jones industrials, the biggest losses were for Nvidia (-1.46%) and P&G (-1.2%), while Boeing (-3.02%) and Merck (-0.74%) were the most notable gainers.

In the commodities market, the price of West Texas Intermediate (WTI) crude oil fell 0.44% to $68.15 a barrel at this time.

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