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.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

America’s biggest trading partners have tried tactics ranging from appeasement to retaliation to avoid higher tariffs. All find themselves faced with similar threats from Washington.

White House National Economic Council Director Kevin Hassett appeared to acknowledge that Trump’s threat to hike tariffs on Brazil is not because of a trade deficit. — Trump is likely to meet with Chinese leader Xi Jinping soon,

The consequences of Trump’s tariffs have begun to set in. Prices are rising as normal Americans shoulder the burden of Trump’s fiscal policy of spite, and his tariffs cause basic goods to become more expensive.