This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets fall Monday, tracking U.S. stocks futures that were lower ahead of key economic data, with the likelihood of more tariffs escalating trade tensions also denting investor sentiment.

U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters.

Over in Japan, the benchmark Nikkei 225 started the day down 0.41%, while the broader Topix index lost 0.41%

The country's bank lending grew by 3% year on year in January, falling slightly from December's 3.1%.

South Korea's indexes also opened lower, with the Kospi down 0.58% and the small-cap Kosdaq down 0.5%.

Australia's S&P/ASX 200 was trading down 0.31%.

Futures for Hong Kong's Hang Seng index stood at 21,150 pointing to a slightly higher open compared to the HSI's close of 21,133.54.

Consumer inflation in China rose for the first time since August 2024, on the back of higher spending in the lead up to the Lunar New Year, data released by the National Bureau of Statistics on Sunday revealed. The consumer price index rose 0.7% month on month and 0.5% annually in January — more than Reuters' 0.4% estimate.

Meanwhile, its producer price index, which captures the wholesale price of goods, fell 2.3% from the previous year in January, more than the 2.1% drop expected by Reuters.

Investors will also be keeping an eye on Indian stocks that fell Friday, after the Reserve Bank of India expectedly cut interest rates for the first time in five years.

The three key U.S. indexes fell Friday after U.S. President Donald Trump's said he was planning reciprocal tariffs on trading partners. Markets were further pressured by the release of consumer sentiment and jobs data which pointed to a pickup in inflation and spiked the 10-year Treasury yield above 4.5% at its session high.

The Dow Jones Industrial Average fell 444.23 points, or 0.99%, to close at 44,303.40. The S&P 500 declined 0.95% to 6,025.99, and the Nasdaq Composite slid 1.36% to end at 19,523.40. Friday's losses left the major averages in negative territory on the week.

— CNBC's Sean Conlon and Hakyung Kim contributed to this report.

Stocks closed out the first trading week of February in negative territory.

The Dow Jones Industrial Average closed 444.23 points, or 0.99%, lower to finish at 44,303.40. The S&P 500 dropped 0.95% to finish at 6,025.99, and the Nasdaq Composite declined 1.36% to settle at 19,523.40.

— Sean Conlon