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.