After Wall Street previously downplayed risks from President Donald Trump's trade war, investors are starting to take his tariff threats more seriously.

Futures on Wall Street are continuing from where they left off on Friday, as profit booking continued from higher levels amidst the increasing trade uncertainties. The Dow futures are currently down 200 points,

The majority of the new tariffs announced closely reflect the rates proposed in April; Laos and Burma are set to face the highest levy at 40%. Meanwhile, goods from Cambodia and Thailand will face slightly lower rates of 36%. Additionally, Brunei, Japan, Kazakhstan, Malaysia, Moldova, South Korea and Tunisia will see a 25% tariff hike.

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.

Wall Street gave up gains Friday after President Donald Trump hit Canada with a fresh 35% tariff and promised more across the board. This came just a day after the S&P 500 set a brand new all-time high.

The Wall Street Journal thinks one Donald Trump move may have just put “his presidency at risk.”

While tariffs are a tangible worry for investors, something far more nefarious (and important) can weigh on the stock market.

By Jarrett Renshaw, Bhargav Acharya and Cassandra Garrison WASHINGTON/MEXICO CITY (Reuters) -President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1,