Dow futures indicate more than 400 point drop at market open after Trump threatens more tariffs on China

 Christine Wang | @christiiineeee Published 1 Hour Ago  Updated 30 Mins Ago CNBC.com PLAY VIDEO Chinese President Xi Jinping

 U.S. stock futures traded lower on Thursday night after President Donald Trump said he has asked the United States Trade Representative to consider $100 billion in additional tariffs against China. As of 7:18 p.m. ET, the implied open for the Dow Jones industrial average was more than 400 points lower. The implied opens for the S&P 500 and Nasdaq were also in the red. Markets have been jittery in recent sessions amid fears of a potential trade war between the U.S. and China. PLAY VIDEO US wine hit by Chinese tariffs "In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a Thursday statement. Trump's comments come after China on Wednesday unveiled tariffs on up to $50 billion in American products annually. Beijing's list came after the U.S. drafted its own list of Chinese imports that would be targeted by proposed tariffs. U.S. Trade Representative Robert Lighthizer called Thursday's proposed measures "an appropriate response to China's recent threat of new tariffs." This story is developing. Please check back for updates. WATCH: Tariffs will take months to impact real economy