U.S. stock futures pared small losses while Asian shares were little changed on Tuesday after the U.S. extended the deadline on steel and aluminium tariffs by one month to major allies.
S&P mini futures traded flat, erasing an earlier loss of 0.2 percent. Japan's Nikkei ticked down 0.2 percent while Australian shares were flat.
MSCI's broadest index of Asia-Pacific shares outside Japan were down 0.2 percent though most markets in the region are closed for a Labour Day holiday.
U.S. shares lost steam late on Monday as worries about rising costs for companies kept investors on edge, despite solid corporate earnings overall.
The market got a small relief after the United States decided to postpone its deadline on steel and aluminium tariffs for the European Union, Canada and Mexico to June.
The United States also reached agreements in principle on tariffs with some other countries, including Australia and Brazil, a source familiar with the matter told Reuters.
The news, first reported by the Wall Street Journal, eased worries the temporary exemptions for several U.S. allies might expire.
Without an extension from U.S. President Donald Trump, the exemptions would have expired at 12:01 a.m. in U.S. Eastern time (0401 GMT) on Tuesday.
In the currency market, the euro traded at $1.2078, not far from 3 1/2-month low of $1.2055 touched on Friday, after weaker-than-expected German retail sales figures.
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