While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10 percentage points higher than what the president said he would apply to America's largest trading partner in April but lower than his mid-May threat of 50%.

The US is imposing a 17% tariff on most tomatoes imported from Mexico with immediate effect, the government said. The duty came into force after the US withdrew from a long-standing agreement with its southern neighbour, arguing that the deal "had failed to protect US tomato growers from unfairly priced Mexican imports".

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.

Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”