The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.

Officials say some Chinese companies have skirted the tariffs that Trump imposed in 2018 by shipping goods to American customers via third countries.

Some commodities have also been subject to individual tariffs. Trump recently announced a 50% tariff on copper imports, effective from 1 August. Steel and aluminium imports are already subject to a 50% tariff from most countries, though in the UK’s case this is 25%.

Plus: Wealthy parents appease their zoomer socialist children, public broadcasting gets saved (by private donors), and

Volkswagen AG’s Audi lowered its financial outlook for 2025 as President Donald Trump’s tariffs and the costs of restructuring its operations weigh on the automaker’s earnings.

Trump is targeting China's transshipments through Southeast Asia. But can tariffs and trade agreements really curb China's regional exports?

The GBP/USD pair posts modest gains near 1.3440 during the Asian trading hours on Monday. The latest optimism fueled by a trade deal between the United States and the European Union triggers a fresh wave of the global risk-on sentiment, which boosts the Pound Sterling.