Tariffs

 The United States and China said on Monday they have agreed a deal to slash reciprocal tariffs for now as the world's two biggest economies seek to end a trade war that has disrupted the global outlook and set financial markets on edge.

Speaking after talks with Chinese officials in Geneva, U.S. Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

The U.S. and China announced on Monday that tariffs against one another will be reduced for a 90-day period after officials held trade negotiations in Geneva, Switzerland.

The tariffs President Donald Trump announced against China on April 2 are being cut by 24 percentage points for this temporary period while retaining the remaining ad valorem rate of 10% from that announcement, according to a joint statement.

The first hard data to emerge from the US-China trade war shows trade between the world's two biggest economies is already way down.

Chinese exports to the US tanked 21% in April compared to a year ago, according to customs administration data cited by Bloomberg. Imports from the US into China fell nearly 14% year over year.

Trading volumes have dropped as a result of the punitive tariffs both countries have imposed after President Donald Trump ramped up duties on imports from China to 145% last month.

LONDON — British Prime Minister Keir Starmer hailed a “fantastic, historic” day as he joined President Donald Trump in announcing a new trade deal between their countries — an agreement Starmer said would protect thousands of British jobs.

President Donald Trump announced a trade deal with the United Kingdom on Thursday, which he and White House officials touted as boosting America's agriculture industry, particularly beef producers.

The deal will see lower tariffs as well as reduced non-tariff barriers on a number of goods, including agricultural products, though the basic 10% tariff rate the Trump administration previously imposed will remain in place.

The UK and the US have reached a deal over tariffs on some goods traded between the countries.

President Donald Trump's blanket 10% tariffs on imports from countries around the world remains in place and still applies to most UK goods entering the US.

But the deal has reduced or removed tariffs on some of the UK's exports, including cars, steel and aluminium.

Here's an at-a-glance look at what's in the deal.

President Donald Trump on Thursday unveiled a trade agreement with the United Kingdom.

The deal is the first by the United States with a country whose imports were subject to new tariffs imposed by Trump in early April.

President Donald Trump on Thursday morning confirmed a new "full and comprehensive" trade deal with the United Kingdom. 

On Sunday night, President Trump issued his second imperial edict of the weekend regarding America’s real forever conflict—our culture war. The first was Friday’s executive order that he would, without apparent legal authority, personally defund two perennial conservative ogres, the Corporation for Public Broadcasting and National Public Radio.

President Donald Trump said early Thursday he will sign a trade deal with Britain that will be America's first since he announced sweeping global tariffs that have hammered markets and threaten to upend the global economy.

"This should be a very big and exciting day for the United States of America and the United Kingdom," he said in a Truth Social post, adding that there would be a news conference in the Oval Office at 10 a.m. ET.