President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on smartphones unless the products are made in America.

Stocks start lower as investors worry about tariffs and Treasury yields as President Donald Trump's tax bill continues to travel through Congress.

While the Japanese firm didn't explicitly call out tariffs as the reason, the fact that the increases were only coming for the US market was telling.This followed on the heels of perhaps the largest retailer to issue a price increase warning: Walmart.