European stocks are expected to open lower Monday as markets react to President Donald Trump’s announcement of a new 15% global tariff, up from his previous 10% levy.

The U.K.’s FTSE is seen down 0.2%, Germany’s DAX 0.7%, France’s CAC 40 0.4%, and Italy’s FTSE MIB 0.45% lower.

Last week, European markets had risen after the U.S. Supreme Court struck down a large portion of Trump’s previous tariffs, but his new global tariff plan has renewed investor uncertainty.

U.S. stock futures fell Sunday, while Asia-Pacific markets rose despite concerns over inflation and global growth, CNBC has reported.

Key European economic data this week includes Germany’s Ifo business climate survey and Italy’s latest inflation figures.