U.S. futures are lower as trade tensions rise. President Trump is proposing new tariffs on imports from the EU as a retaliation for the economic damage to the U.S. created by Airbus subsidies. The U.S. is considering placing tariffs on up to $11B of EU goods. On the earnings front, Q1 earnings will kick into gear on Friday as JPMorgan and Wells Fargo will be the first large banks to report. Ahead of bank earnings, Bank of America has announced that they will raise their minimum wage to $20/hour over the next two years. Later this morning, markets will get a look at job openings in February when the latest JOLTS report comes out at 10am. European shares are moving lower after starting the session higher as investors weigh the impact of potential tariffs. Asian shares closed mostly higher, but lack of conviction kept gains small across the region.