Financial markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30% rate for the European Union and Mexico effective Aug.

FINANCIAL markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30 percent rate for the European Union and Mexico effective August 1.

Key Points The president has extended his tariff pause until Aug. 1.His administration also sent letters to many countries letting them know what their tariff rates will be on Aug. 1 -- and many of these rates are high.