US equity futures are slightly higher. European markets are weaker, and Asian equities ended mixed. Markets continue to grapple with trade uncertainty after President Trump announced permanent tariffs on imported autos starting at 2.5% on April 2, eventually rising to 25%, without exceptions. Additional tariffs on lumber and pharmaceuticals are also planned, though Trump hinted at possible leniency in reciprocal tariffs. The European Union is reportedly bracing for tariffs around 20%. On the economic front, US durable goods orders were stronger than expected. Fed policymakers highlighted rising inflation risks tied to tariffs, reinforcing expectations for an extended policy hold.

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