NEW YORK (Reuters) – U.S. stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump’s comments as a bargaining tactic and expressed confidence in an eventual trade agreement.

After the closing bell, however, equity index futures took a fresh hit after senior U.S. trade officials said China had reneged on its previous commitments and the tone of negotiations had soured.

S&P e-minis were last down 0.60% after resuming trading for the overnight session, a signal that investors expect the market to open lower on Tuesday.

U.S. Trade Representative Robert Lighthizer said the Trump administration would “probably” publish a notice on Tuesday about plans to raise tariffs