Global markets greeted Donald Trump's presidency with apprehension on Tuesday in moves that were highly sensitive to headlines over the newly sworn-in president's plans for trade relations and tariffs in particular.

President Donald Trump did not immediately impose tariffs on Monday but said in his inaugural address the U.S. would collect "massive amounts" of income from foreign trade duties as his administration works to rebuild American industry.

After bracing for a torrent of tariffs by Donald Trump from his first day in office, investors in Chinese assets are breathing a sigh of relief — at least for now.