US Futures are lower as trade disputes escalate. President Trump announced plans to identify an additional $200B of Chinese imports that the U.S. could potentially slap a 10% tariff on. China responded that they would retaliate if the U.S. was to take these additional measures. On the data front, May housing starts rose more than expected, rising 5%, while permits fell more than expected, falling 4.6%. European shares are trading lower on trade concerns with basic material stocks leading lower. Asian shares closed sharply lower with technology shares leading lower.