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.

Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.

“Trump is trying to divide and scare Europe, but if we raise our heads now, there will be division in the American camp, even among his most important supporters, because many companies in key electoral districts would be damaged by our response,” Benifei said in the interview.