Wall Street is pointing to a lower open Monday as the Trump administration steps up pressure on trading partners to quickly make deals before a Wednesday deadline. The U.S. will warn trading partners that higher tariffs could kick in Aug. 1.

The president is again threatening higher tariff rates on a dozen foreign nations, as a deadline elapses this week for making trade deals.

President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, as countries negotiated through the weekend to avoid the highest punitive measures on their exports to the US before a Wednesday deadline.