European markets head for a lower open as traders digest Trump's tariffs announcement

Here are the opening calls

Welcome to CNBC's live blog covering all the action and business news in European financial markets on Tuesday.

Futures data from IG suggests regional markets will open lower, with London's FTSE 100 expected to open 0.3% lower, Germany's DAX and France's CAC 40 0.1% lower, respectively. Futures tied to Italy's FTSE MIB, were around 0.1% lower this morning.

Global markets are seesawing this week, as traders digest the latest trade tariff news, and any potential trade deals ahead of a July 9 deadline, when higher trade duties are due to come into effect.

U.S. Treasury Secretary Scott Bessent told CNBC's “Squawk Box” on Monday that there would be several trade announcements over the next 48 hours, adding that he expects “it's going to be a busy couple of days.” He did not specify which countries were involved.

Asia-Pacific markets swung between gains and losses overnight, however, as investors assessed Trump's latest tariff threats on 14 trading partners.

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Trump announces steep tariffs on 14 countries starting Aug. 1

Goods exported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan and Tunisia are now set to face 25% tariffs starting Aug. 1, according to the letters Trump posted on Truth Social.

Other Asia-Pacific markets facing higher tariffs include Indonesia, which will be hit with a 32% excise duty, Bangladesh, which was slapped with a 35% duty, as well as Cambodia and Thailand, which are set for 36% tariff rates, the president's letters indicated.

Meanwhile, imports from Laos and Myanmar will face a 40% duty, Trump's letters posted on Truth Social showed.