Donald Trump has imposed a 17 percent tariff on tomatoes imported from Mexico, leaving shoppers and business owners bracing for the price of the grocery staple to increase. The tariffs took effect on Monday after the U.

MEXICO CITY (Reuters) -Mexican President Claudia Sheinbaum on Tuesday said Mexico will take action if an agreement with Washington regarding new tariffs is not reached by the August 1 deadline set by her U.

Stocks were mixed in early trading on Monday after President Donald Trump over the weekend issued 30% tariffs on the European Union and Mexico, rekindling tensions with two of the largest U.S. trade partners and threatening to raise consumer prices.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

Betting on Mexico’s currency has paid off for investors even amid Donald Trump’s trade war.The peso is up more than 11% this year, beating all regional peers, even as it dipped Monday following the latest tariff news — a threat of a 30% levy announced over the weekend.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.

Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.