U.S. Futures are Lower as Trade Tensions Rise #Trade #China #Tariffs

U.S. Futures are lower as trade tensions rise.  Late yesterday, President Trump identified a new list of $200b in Chinese goods that will be subject to a 10% tariff if enacted.  The proposed tariff will go through a review process that is expected to take place in August.  In economic data, the Labor Department reported that producer prices rose more than expected in June, rising 0.3% m/m and 3.4% y/y.  The new proposed tariffs have dragged down global markets.  European shares are trading lower with materials stocks leading lower.  Asian shares closed lower with Chinese markets leading lower.

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