Trump’s announcement provides investors with a fresh incentive to turn their attention to global trade, particularly the shipping industry.

Under the new terms, UK car exports to the US will face a reduced tariff of 10%, down sharply from the previous rate of 27.5%. The aerospace sector will enjoy even greater relief, with tariffs on British exports such as aircraft engines and parts eliminated entirely.

Federal Reserve policymakers will begin a two-day meeting on Tuesday with escalating tensions in the Middle East risking a new commodity price shock and fresh U.S. data expected to show a drop in retail sales and sluggish factory output in May.

KANANASKIS, Alberta (Reuters) -Japan's Prime Minister Shigeru Ishiba met with U.S. President Donald Trump on the sidelines of the Group of Seven meeting in Canada on Monday as Tokyo urges Washington to drop import auto tariffs that threaten to slow Japan's economy, the Japanese government said.

President Trump kicked off three days of meetings in Canada, saying 'our primary focus will be trade,' but with minimal evidence of progress to offer on long-promised deals.

The Indian rupee hit its weakest level in more than two months on Tuesday, hurt by worries over geopolitical tensions in the Middle East and U.S. President Donald Trump's remark that pharmaceutical tariffs were coming very soon.

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At Home, a popular home goods retailer with 260 stores across 40 US states, has filed for bankruptcy, citing the backdrop of tariff increases and a slowdown in consumer spending.

The European Commission dismissed on Monday reports suggesting it was willing to accept a broad U.S. tariff of 10% on EU goods as speculative and said they did not reflect current discussions. "Negotiations are ongoing,