08:03 AM EDT, 04/04/2025 (MT Newswires) -- US equity futures were lower pre-bell Friday as traders looked ahead to the crucial monthly jobs report amid the escalating global tariff situation.

The Dow Jones Industrial Average futures were down 3.3%, S&P 500 futures were 3.4% lower, and Nasdaq futures were falling 3.7%.

China will impose an additional 34% tariffs on all imported US goods, effective April 10, in response to US President Donald Trump's sweeping tariff policy unveiled on Wednesday, China's Customs Tariff Commission of the State Council said Friday.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 8.1% at $64.44 per barrel and US West Texas Intermediate crude 8.6% lower at $61.16 per barrel.

The March jobs report, scheduled for release at 8:30 am ET, is expected to show a 137,000 monthly increase in non-farm payrolls following a 151,000 rise previously, according to estimates compiled by Bloomberg. The unemployment rate is expected to remain steady at 4.1%.