U.S. equity futures reopen lower, U.S.-China trade relations at new low ebb
Aug 25 (Reuters) - U.S. stock index futures dropped when
electronic trading resumed on Sunday, with trade relations
between the United States and China appearing to reach a new low
on Friday, sending Wall Street into a selling frenzy.
White House spokeswoman Stephanie Grisham sought on Sunday
to clarify comments from Trump, saying the president wished he
had raised tariffs on Chinese goods even higher last week, even
as Trump signaled he did not plan to follow through with a
demand he tweeted on Friday that U.S. firms find ways to close
operations in China.
In early trading, the benchmark S&P 500's emini futures
contract was down 1.23%. Futures tracking the Nasdaq
Composite Index and Dow Jones Industrial Average
were also down.
Trump raised eyebrows on the sidelines of the weekend G7
summit in France when he responded in the affirmative to
questions from reporters on whether he had any second thoughts
about raising tariffs on Chinese goods by 5%.
Trump announced the additional duty on some $550 billion in
targeted Chinese goods on Friday, hours after China unveiled
retaliatory tariffs on $75 billion worth of U.S. goods.
(Reporting by Alden Bentley in New York; Editing by Peter
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