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.

Mexico is aiming for a U.S. trade agreement before the Aug. 1 deadline, while the European Union said it is ready to retaliate against any tariffs.

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. Trump on Thursday announced a 35% tariff on Canadian goods.