Major European stock exchanges traded mostly in the red in the premarket on Tuesday as United States President Donald Trump's tariffs on Canada, China, and Mexico finally took effect, raising worries about how the global economy would be affected. Meanwhile, in data, investors will be looking at unemployment figures from the Eurozone, Italy and Spain.

The DAX declined 0.33% at 8:00 am CET. At the same time, the Euro Stoxx 50 tumbled 1.03%, the CAC 40 lost 0.55% and the FTSE 100 was flat.

The euro and the pound both traded flat against the dollar at 7:58 am CET, going for 1.04857 and 1.26977, respectively.