Political concerns from recent sessions continue to rattle investors. Markets remained jittery Monday following media reports that President Donald Trump is preparing a fresh round of tariffs on around $200 billion worth of Chinese imports, which could start as soon as this week or today.
A senior administration official familiar with the matter went onto confirm with CNBC on Sunday that the U.S. administration was readying a fresh round of tariffs.
China's Foreign Ministry responded to the speculation Monday, stating that Beijing would retaliate in kind should the U.S. initiate fresh tariffs, Reuters reported. This comes just days after news emerged that the U.S. was seeking to reignite trade discussions with China.
Director of the National Economic Council Larry Kudlow fostered those tensions Monday after he told CNBC's Becky Quick that Trump has "not been satisfied" with the trade talks with Beijing.
"The president has suggested tariffs on a couple $100 billion" in Chinese goods, Kudlow said. "He has not been satisfied with the talks with China on this. My guess is that an announcement will be coming soon."