The Latest Breaking News on Trump promises there will be ‘no change’ to his August 1 tariffs start - despite previous delays in the timetable

President Donald Trump said Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies, a day after he appeared to signal flexibility on the date.

The dollar index (DXY00 ) today is up by +0.30%. The dollar recovered from overnight losses and climbed to a 1.5-week high due to stronger T-note yields. The 10-year T-note yield rose to a 2-week high today at 4.43%, which strengthened the dollar's interest rate differentials. Weakness in the yen...

The US is the world’s second-largest manufacturer after China, adding $2.9 trillion to the global economy.

Exports had jumped in February and March as German manufacturers sought to get ahead of tariffs threatened by the US. Shipments then dropped dramatically in the following two months, pointing to a short-lived surge.

On Monday, Trump’s White House unveiled flat 25% tariffs on Japan and South Korea, two of the U.S.’s trading partners.

Stock market volatility and costs to small businesses are just two of the knock-on effects from the tariffs

The European Union will not face higher tariffs from the United States, unlike several other countries that received letters from US President Donald Trump Monday informing them of sharply higher tariffs on goods starting 1 August.

Higher tariffs had been set to come into effect on 9 July, although the US president has now moved this date to 1 August.

Trump announces new levies of up to 40% as he steps up his trade wars but also extends a previous pause. Key US politics stories from Monday 7 July