US and European stock futures dropped as President Trump announced a 30% tariff on goods from the EU and Mexico. Asian stocks remained mostly flat. Trump’s tariff threats are challenging the market’s strength, despite investor confidence in his potential to back down. The EU’s optimism for a deal with the U.S. has dampened. China’s exports beat forecasts in June, growing by 5.8%, reaching $325.2 billion. Rare-earth exports jumped 32% from May. European stocks fell on Monday, with carmakers leading the decline. Italy has prepared $24.5 billion worth of tariffs on U.S. goods. AstraZeneca shares rose after a successful drug study. Currency movements showed mixed results. Traders await inflation data for clues on future rate cuts. Bitcoin hit a fresh all-time high above $123k, becoming the 5th largest asset globally.

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