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CNBC Daily Open: Trump’s tariffs are already affecting markets

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Trump tariffs take effect
U.S. President Donald Trump launched a salvo of tariffs on Saturday. Imports from Mexico and Canada will face a 25% duty, while those from China will be subject to a 10% tariff. Energy resources from Canada will face a lower 10% tariff. Canada's Prime Minister Justin Trudeau announced on the same day retaliatory tariffs of 25% against $155 billion in U.S. goods. Industry leaders in the U.S. have expressed concern over those tariffs.

Effects of Trump's tariffs
U.S. stock futures tumbled on Monday morning as traders digested the implications of tariffs. Prices of U.S. crude climbed nearly 2% and the international Brent benchmark rose more than 1%. However, analysts think oil prices could fall in the long run if tariffs trigger a global recession. Bitcoin fell around 3.9% to $94,174.61 as of 2:20 p.m. Singapore time, though one strategist thinks a tariff war would be "amazing" for the cryptocurrency.

For stocks, a winning January amid uncertainty
U.S. markets retreated Friday, giving up earlier gains, on news of Trump's impending tariffs. The S&P 500 lost 0.50%, the Dow Jones Industrial Average slid 0.75% and the Nasdaq Composite fell 0.28%, but all indexes ended January in the green. Asia-Pacific markets suffered losses on Monday. Japan's Nikkei 225 and South Korea's Kospi index dropped more than 2% each. Taiwan semiconductor stocks TSMC and Foxconn, which trades as Hon Hai Precision Industry, slumped after a DeepSeek-induced tech sell-off last week.

Factory growth slows in

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