US futures are lower this morning as trade war fears increased. In an article from the Financial Times, the US may potentially receive a new round of tariffs worth around $300 billion if the US goes ahead with their levies on automakers in the European Union. Other trade related news include the Trump administration looking to draft a bill that would allow the President to increase trade tariffs without congressional consent. Global markets are down on this news with the Shanghai index leading Asia to close lower while the FTSE is currently trading lower along with other European markets. Later this morning, we will get PMI data and Manufacturing ISM data.