By Alexandra Gibbs, CNBC–

U.S. stock index futures fell deep into the red ahead of Monday’s open, after the U.S. and China announced new tariffs against one another.

Around 5:35 a.m. ET, Dow futures slipped 147 points, indicating a negative open of 148.48 points. The Nasdaq and the S&P 500 futures also indicated a negative start to the session for their respective markets.

The moves in pre-market trade came as international markets traded deep in the red on Monday’s session, with Asia closing lower and Europe post heavy losses. Markets appear rattled as concerns surrounding trade tensions intensified.

On Friday, President Donald Trump announced that the U.S. would inflict tariffs that would impact up to $50 billion worth of Chinese goods.

According to Washington, the action comes “in light of China’s theft of intellectual property and technology and its other unfair trade practices.”

Consequently, the move triggered China to retaliate, with Beijing announcing its own selection of duties on U.S. goods. The Chinese State Council’s commission on tariffs and customs stated that a 25 percent tariff would occur in early July on $34 billion of U.S. products.

Elsewhere, in data, the business leaders’ survey is due out at 8:30 a.m. ET, followed by the NAHB/Wells Fargo Housing Market Index at 10 a.m. ET.

On the central banking front, Atlanta Fed President Raphael Bostic is set to deliver remarks at the Rotary Club of Savannah in Savannah, Georgia.

In New York, its incoming Fed President John Williams is expected to appear at the Reforming Culture and Behavior in the Financial Services Industry: Progress, Challenges, and the Next Generation of Leaders event.

The speeches come less than a week after the U.S. Federal Reserve decided to increase its short-term interest rate by a quarter percentage point.

No major corporate earnings are scheduled to be published.

—CNBC’s Jacob Pramuk and Evelyn Cheng contributed to this report