U.S. stock futures edged lower Sunday evening as investors prepared for renewed trade tensions, with Washington's temporary suspension of tariffs set to lapse midweek.

President Donald Trump’s 90-day freeze on reciprocal tariffs is nearing its expiration on Wednesday, heightening uncertainty in global markets.

While many anticipated a broader extension, officials over the weekend suggested only a short reprieve is likely. Without finalized trade agreements, tariff rates are set to revert to what administration officials are calling “Liberation Day” levels on August 1.

Treasury Secretary Scott Bessent warned that, absent new trade deals, tariffs would “boomerang back” to their steep April 2 levels a move that previously triggered a sharp stock sell-off before the pause was announced.

Commerce Secretary Howard Lutnick echoed the sentiment, confirming that new tariffs would take effect August 1. He added, however, that the president is actively negotiating terms and rates in hopes of reaching agreements before the deadline.

Following the news, futures tied to the Dow Jones Industrial Average dropped 148 points, or 0.33%. S&P 500 futures were down 0.37%, while Nasdaq futures slipped 0.35%, reflecting cautious investor sentiment.

The market's dip marks a milder start to the week compared to Friday’s steeper futures decline, which came after Trump revealed plans to begin issuing tariff notices with rates as high as 70%.

In other financial indicators, the yield on the benchmark 10-year U.S. Treasury note inched up by 0.8 basis points to 4.348%. Gold held steady at $3,344.70 an ounce, while the U.S. dollar remained flat against the euro and eased slightly 0.05% against the Japanese yen.

In commodities, U.S. crude oil prices fell 1.55% to $65.96 a barrel, while Brent crude slipped 0.76% to $67.76. The decline followed an announcement from OPEC+ of a more aggressive output hike scheduled for August.

With few major economic reports expected this week, investors will turn their attention to the Federal Reserve’s policy meeting minutes, due Wednesday, for clues on the central bank’s next steps amid global economic crosswinds.