Hassett also spoke about Trump’s plan for a 50 per cent tariff on imports from Brazil, saying it showed the President’s dissatisfaction with how Brazil has handled trade discussions.

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.

The future of industrial towns like Scunthorpe and Port Talbot may rest on the wider fate of the UK's steel industry.

US President Donald Trump on Saturday threatened to impose a 30% tariff on all goods imported from the European Union starting August 1.

In a wide-ranging interview with NBC News, Trump talked about tariffs, sending Patriot missiles to NATO for Ukraine and how he'll sell his recently passed "big, beautiful bill."

Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.

Since the 2021 coup, the US and most Western nations have refused to recognise Myanmar’s junta as the country’s legitimate government.

Donald Trump capped off a whirlwind series of tariff threats with confirmation that he has broken yet another tariff revenue record, ending a week where his trade war got more complicated than ever.