Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.

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.

EU trade ministers are alarmed by Trump's new EU tariffs, but are trying to negotiate a deal that would help streamers avoid possible retaliation.