Global markets shrugged off the news, however, with both Asia-Pacific and Europe stocks staging a muted response Tuesday. One reason is likely to be because of Trump's seemingly more flexible approach to the new policies.

Major stock indexes were little changed on Tuesday as investors digested the latest news in U.S. President Donald Trump's tariff rollout, and the yen extended its slide against the dollar on planned 25% duties on goods from Japan.

Shares of Rocket Lab Corp. ended Monday’s session up 9% amid the ongoing clash between President Donald Trump and SpaceX Chief Executive Elon Musk.

Tesla shares sank Monday after CEO Elon Musk announced he would form a new political party in an escalation of his feud with President Donald Trump.

President Trump said Elon Musk's new third party is "good for me" but maybe not for other Republicans during a press conference.

President Donald Trump said on Tuesday he will announce a 50% tariff on copper later in the day, aiming to boost U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods.

The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.

President Trump announced potential trade deal with India amidst imposing reciprocal tariffs on several nations, including allies like Japan and South Korea. While India is spared from these tariffs,

Donald Trump administration announced a 25 per cent tariffs on Japan, South Korea, Kazakhstan, Malaysia, Tunisia. US announced 30 per cent on South Africa, Bosnia and Herzegovina and 32 per cent on Indonesia.