Investing.com - U.S. bank stocks slipped in premarket U.S. trading on Monday on concerns over the impact of President Donald Trump’s tariff plans on the broader economy.

Shares in JPMorgan Chase (NYSE: JPM ), Goldman Sachs and Bank of America all fell prior to the opening bell on Wall Street, mirroring a decline in U.S. stock market futures.

Late last week, Trump unveiled a temporary delay on 25% levies on most goods incoming from traditional U.S. trading partners Canada and Mexico until April 2. The postponement covers products that were included in a prior trade deal signed between the countries.

Although markets breathed some sigh of relief at the decision, investors have still flagged major worries over the confusion swirling around Trump’s near-constant stream of threats, announcements and reversals. The tariffs are also clouding the outlook for inflation and growth, raising fresh fears over a potential slowdown in the U.S. economy.

According to poll of economists conducted by Reuters, more than 90% of respondents think the odds of a downturn have increased due to Trump’s rapidly-evolving trade policy.

In an interview with Fox News over the weekend, Trump declined to rule out the possibility of a recession, while warning that the economy was in a transitory period as he embarked on his agenda. But he maintained his threats of more tariffs.

Elsewhere, markets were assessing the outcome of a leadership election in Canada’s ruling Liberal Party. Former central banker Mark Carney won 86% of the vote to succeed Justin Trudeau as the country’s Prime Minister, beating out ex-finance minister Chrystia Freeland.

Carney hit out at Trump in an address following the ballot, saying he is "attacking Canadian workers, families and businesses."