Wall Street futures slip after Trump's steel, aluminum tariff threats

Trump said on late Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday, just hours after he accused China of violating an agreement. The increased levies would deepen Trump's global trade war and douses some enthusiasm stemming from a softening in his trade stance. "It is really hard to keep up or predict what's going to happen on trade at the moment, and that's before we factor in the full ramifications from the court ruling last Thursday night, and then subsequent brief stay of execution for them on appeal," Jim Reid, global head of macro and thematic research at Deutsche Bank, said in a note.