The US is imposing a 17% tariff on most tomatoes imported from Mexico with immediate effect, the government said. The duty came into force after the US withdrew from a long-standing agreement with its southern neighbour,

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The Trump administration is imposing a 17% tariff on most fresh Mexican tomatoes, the federal government said Monday, ending a yearslong agreement with the U.S.' southern neighbor over trade practices.

Mexican President Claudia Sheinbaum on Tuesday said Mexico will take action if an agreement with Washington regarding new tariffs is not reached by the August 1 deadline set by her U.S. counterpart Donald Trump.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.

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