U.S. stock futures turned negative on Tuesday as President Donald Trump’s 10% tariffs on China took effect, triggering retaliatory measures from Beijing. China responded with import tariffs on U.S. goods, export controls on tungsten-related materials, and an antitrust probe into Google (NASDAQ: GOOGL) while adding PVH Corp (NYSE: PVH) and Illumina (NASDAQ: ILMN) to its unreliable entities list. The escalating trade tensions raised fears of a renewed trade war, pushing S&P 500 Futures down 0.3% to 6,001.50, Nasdaq 100 Futures down 0.5% to 21,291.25, and Dow Jones Futures down 0.3% to 44,436.0. Hong Kong’s Hang Seng index rose 1.8%, benefiting from gains in tech stocks, while Mainland Chinese markets remained closed for the Lunar New Year. Meanwhile, Trump postponed a proposed 25% tariff on Canada and Mexico by 30 days but made no concessions for China, with a potential discussion with President Xi Jinping later in the week. Analysts and Federal Reserve officials warned that higher U.S. tariffs could fuel inflation, slow economic growth, and complicate future Fed interest rate decisions, adding to market uncertainty.