Trump says a China trade announcement is coming after market close

The S&P 500 closed down 0.55 percent near its lows of the trading session after the report.

Earlier on Monday, White House economic advisor Larry Kudlow said Trump has “not been satisfied” with the trade talks with China and confirmed the administration was readying additional tariffs.

Over the weekend, The Wall Street Journal reported that Trump was set to move ahead with tariffs on $200 billion in Chinese goods. The report followed other news outlets saying that U.S. officials were trying to restart U.S.-China trade talks.