US stock futures edged lower on Monday after President Donald Trump confirmed that tariffs will take effect on August 1. Commerce Secretary Howard Lutnick stated on Sunday that the new duties are scheduled to resume next month, adding that the President is currently determining the final rates amid ongoing negotiations - an assertion Trump affirmed. Earlier in the day, Treasury Secretary Scott Bessent stated that tariffs would revert to April 2 levels if no trade deal is reached by August 1. Trump’s 90-day reprieve on reciprocal tariffs, originally set to expire this week, has been extended due to stalled talks. Last week, the S&P 500 and Nasdaq Composite rose 1.72% and 1.62%, respectively, both hitting fresh record highs on optimism over easing trade tensions. The Dow also gained 2.3%, approaching new all-time highs. Looking ahead, investors are eyeing the upcoming earnings season for new market drivers.