CNBC Daily Open: Iran-U.S. tensions, China's factory data and a steady Bank of Japan

Vessels transit the Bab el-Mandeb Strait off the coast of southern Yemen on July 25, 2026. Khaled Ziad | Afp | Getty ImagesHello, this is Justina Lee writing to you from Singapore, filling in for Leonie.U.S. President Donald Trump has called on Congress to add tariffs on Iran to a sanctions bill against Russia and Tehran that has bipartisan support, but those duties are likely to have little effect to Iran's economy. Signs of a recovery in crude flows through the Strait of Hormuz are easing supply concerns, with oil prices extending declines on Friday. In Asia, China's factory activity contracted unexpectedly in July for the first time since February, the Bank of Japan kept its policy rate steady, while shares South Korea's chip heavyweights SK Hynix and Samsung Electronics come roaring back to life. What you need to know todayHostilities between the U.S. and Iran continue to intensify, after U.S. President Donald Trump called on Congress to add tariffs on Iran to a sanctions bill against Russia and Tehran that has bipartisan support."I'd like to see tariffs on Iran. It would make it much stronger," Trump said of the bill. However, those duties would have little effect, given that ...