By Janet H. Cho

Stock futures were falling on Sunday night, as investors and leaders from Europe and Mexico reacted to President Donald Trump's threat to impose 30% tariffs on their goods starting Aug. 1.

Dow Jones Industrial Average futures were down 204 points, or 0.5%, shortly after they began trading at 6 p.m. Eastern time. S&P 500 futures also were down 0.5%; and Nasdaq Composite futures were down 0.6%.

German Chancellor Friedrich Merz told the broadcaster ARD that Trump's higher tariffs would hit the German export industry "to the core," and vowed to work toward a solution. Merz said he had discussed the tariffs with French President Emmanuel Macron and European Union President Ursula von der Leyen, according to a Bloomberg report.

If the tariffs are enacted, Germany might have to postpone some of its economic efforts, the report said. "That would overshadow everything, and hit the German export industry to the core," Merz said.

Meanwhile, von der Leyen said the EU will extend the suspension of its trade countermeasures until Aug. 1 while it seeks a negotiated settlement to Trump's proposed tariffs.

"We remain ready to continue working towards an agreement by August 1," she said in a statement on Sunday. "At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required."

The Dow Jones Industrial Average last week closed down 457 points, or 1%, snapping a three-week winning streak in its largest one-week point and percentage decline since the week ending June 13, according to Dow Jones Market Data. The Dow is up 4.3% so far this year.

The S&P 500 index shed 0.3% last week, snapping a two-week winning streak. Friday's close was still its fourth-highest close in history, according to Dow Jones Market Data. The S&P 500 is up 6.4% this year.

The Nasdaq Composite closed down 0.1% last week, also snapping a three-week winning streak. Friday's close was its fourth-highest close in history. The Nasdaq is up 6.6% this year.

Write to Janet H. Cho at janet.cho@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

July 13, 2025 18:26 ET (22:26 GMT)

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