08:25 AM EDT, 10/14/2025 (MT Newswires) -- US equity futures were lower pre-bell Tuesday as fresh retaliatory trade measures from China reignited trade tensions between the world's two largest economies.

Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.1% lower.

China reportedly placed sanctions on five US subsidiaries of South Korean shipbuilding firm Hanwha Ocean.

US President Donald Trump on Friday warned of new 100% tariffs on China. However on Sunday, in a social media post, Trump said "Don't worry about China, it will all be fine!"

Traders also digested earnings from major US banks. JPMorgan Chase ( JPM ) , Wells Fargo ( WFC ) , and Goldman Sachs ( GS ) all reported higher Q3 earnings and revenue.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.9% at $62.12 per barrel and US West Texas Intermediate crude 2% lower at $58.28 per barrel.

Federal Reserve Chair Jerome Powell is scheduled to speak at the annual meeting of the National Association for Business Economics at 12:20 pm ET.