President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.

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%.

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

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.

Mexican President Claudia Sheinbaum on Tuesday (July 15) 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.S. counterpart Donald Trump,

The tariffs are likely to inflame tensions with one of the largest U.S. trading partners.

President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.

The move comes amid a separate push by President Trump to increase tariffs on dozens of U.S. trading partners, including Mexico, which was told over the weekend to expect 30% tariffs starting in August.