NEW YORK (AP) \u2014 <\/p>\n
THIS IS A BREAKING NEWS UPDATE. AP\u2019s earlier story follows below.<\/p>\n
Wall Street was mixed in quiet trading early Tuesday as markets appeared to shrug off new tariff deadlines for U.S. trading partners.<\/p>\n
Futures for the S&P 500 added 0.1% before the bell, while futures for the Dow Jones Industrial Average shed 0.1%. Nasdaq futures rose 0.2%.<\/p>\n
Markets tumbled Monday after President Donald Trump<\/a> set a 25% tax on goods imported from Japan and South Korea and new tariff rates<\/a> on a dozen other nations scheduled to go into effect on Aug. 1.<\/p>\n The S&P slid 0.8% on Monday to its biggest one-day decline since June, but remains near record levels. The Dow and Nasdaq fared about the same, but the wild, tariff-induced swings of the spring seem to have tempered.<\/p>\n Trump provided notice by posting letters on Truth Social that were addressed to the leaders of the various countries. The letters warned them to not retaliate by increasing their own import taxes, or else the Trump administration would further increase tariffs. <\/p>\n \u201cFinancial markets have reacted to news of higher U.S. tariffs in sanguine fashion,\u201d wrote Chris Turner, ING\u2019s global head of markets. \u201cPresumably, the view is now that there are more deals to be done before the (Aug. 1) deadline.\u201d<\/p>\n Just before hefty U.S. tariffs on goods imported from nearly every country around the globe were to take effect in April, Trump postponed the levies for 90 days in hopes that foreign governments would be more willing to strike new trade deals. That 90-day negotiating period was set to expire before Wednesday.<\/p>\n