08:24 AM EST, 03/04/2025 (MT Newswires) -- US equity futures were lower pre-bell Tuesday as traders monitored the potential impact of US President Donald Trump's tariffs on Canada, Mexico and China.

The Dow Jones Industrial Average futures slipped 0.3%, S&P 500 futures declined 0.6%, and Nasdaq futures were down 0.7%.

Trump's new tariffs on the country's top three trading partners took effect Tuesday. China already responded with retaliatory tariffs, while Canada and Mexico are also expected to unveil similar moves, according to media reports.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $70.44 per barrel and US West Texas Intermediate crude 1.5% lower at $67.36 per barrel.