Dow futures fall 100 points after Trump says he's 'ready to go' to $500 billion in tariffs on China

U.S. stock index futures declined after President Donald Trump said he is ready to put tariffs on every Chinese good coming to the U.S. if necessary.

"I'm ready to go to 500," the president told CNBC's Joe Kernen in a "Squawk Box" interview.

Futures fell to their lows after the airing of the interview Friday morning New York time.

Dow futures were down 100 points as of 6:45 am ET.

Trump said the rally in U.S. stocks since he won the election gives him the opportunity to wage a tough trade war with China and others that he hopes will lead to better deals even as the tactics cause some market turmoil.

"We're playing with the bank's money," Trump told CNBC. "This is the time."

The S&P 500 was up 31 percent since Trump's win in 2016 through Thursday. The market's gain has slowed this year as the Trump administration implemented new tariffs on countries with the S&P 500 up 4.9 percent for 2018 through Thursday.

On Wednesday, U.S. stocks closed lower amid presidential criticism of the Federal Reserve. President Trump said in the clip of the interview aired by CNBC Thursday that he wasn't happy about rising interest rates.

In the same interview, Trump said if his dealings with Russian President Vladimir Putin don't work out, Trump will become "the worst enemy he's ever had." The White House has sent an invitation to the Kremlin for a visit to Washington DC this fall.

Elsewhere, China is reportedly giving more liquidity to the financial system and easing credit to small and medium-sized firms to protect its economy against the trade war with the United States.

There are no major data releases Friday. Market players will therefore be mostly focused on earnings, with General Electric reporting before the bell.

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