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U.S. stock index futures inched higher on Tuesday, building onto gains, while investors assessed the implications Donald Trump's tariffs on top trade partners could have on the local economy.

The president-elect said he would impose a 25% conditional tariff on Canadian and Mexican imports that could violate a free-trade deal he negotiated during his previous term. He also outlined "an additional 10% tariff, above any additional tariffs" on imports from China.