US Futures are lower after President Trump confirmed tariffs on Chinese goods. President Trump confirmed the levy of 25% tariffs on $50B of Chinese goods beginning in July. President Trump also confirmed that a second round of tariffs is ready for implementation if China retaliates with tariffs of their own. On the data front, the June Empire Manufacturing survey came in stronger than expected, pointing to additional strength in the manufacturing sector. Later this morning the market will get a look at industrial production from May and a preliminary read on consumer sentiment from June. European shares are mostly lower a day after the ECB confirmed the tapering of their bond purchase program. Asian shares closed mixed as the markets awaited details on trade tariffs. The BOJ announced no changes to their policy at this time.