President Trump announced an agreement on trade with the U.K. on Thursday, the first in what the White House hopes is a series of such developments since it imposed tariffs against allies and adversaries, the Wall Street Journal reported. Trump teased the announcement on Truth Social earlier, calling the agreement “full and comprehensive,” and added: “Many other deals, which are in serious stages of negotiation, to follow!” U.K. officials said the pact isn’t a comprehensive trade agreement and will instead focus on reducing tariffs in specific sectors.

The Federal Reserve warned that the economy faced growing risks of higher unemployment and higher inflation due to tariff increases when officials agreed to hold interest rates steady on Wednesday, the Wall Street Journal reported. “If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment,” Fed Chair Jerome Powell said at a news conference. Tariffs represent a shock that can decrease an economy’s ability to supply goods or services while sending up prices.

The European Commission will announce on Thursday details of its next countermeasures against U.S. tariffs should negotiations with Washington fail, European Trade Commissioner Maros Sefcovic said on Wednesday, Reuters reported. "Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the further discussions," Sefcovic told a news conference in Singapore after the signing of a digital trade agreement with the Southeast Asian country.

Vietnam's imports from China and exports to the United States both reached a post-pandemic record in April, amid talks with Washington to reduce Hanoi's trade surplus and a crackdown on Chinese goods being shipped to the U.S. via its territory, Reuters reported. The Southeast Asian nation faces the risk of 46% duties on its exports to the U.S. if the White House confirms this rate at the end of a global tariff pause in July. This could undermine Vietnam's growth model and hit multinationals exporting from the country, including Samsung and Nike.

India has proposed zero tariffs on steel, auto components and pharmaceuticals on a reciprocal basis up to a certain quantity of imports in its trade negotiations with the U.S., Bloomberg News reported. Beyond this threshold, imported industrial goods would attract the regular level of duties. The offer was made by Indian trade officials visiting Washington late last month to expedite negotiations on a bilateral trade deal expected by fall this year. Read more.

U.S. prosecutors said on Monday that UBS, which rescued Credit Suisse from the brink of collapse two years ago, would pay $510 million in fines for the role Credit Suisse played in helping clients evade taxes, the New York Times reported. Credit Suisse, among other moves, helped clients hide more than $4 billion from the Internal Revenue Service in at least 475 accounts, prosecutors said. Credit Suisse’s Singapore office was singled out for holding undeclared accounts for people who owed taxes. The bank pleaded guilty to, in the words of prosecutors, enabling “U.S.

U.S. President Donald Trump on Sunday said that the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal, Reuters reported. Trump told reporters aboard Air Force One that he had no plans to speak with Chinese President Xi Jinping this week, but U.S. officials were speaking with Chinese officials about a variety of different things. Asked if any trade agreements would be announced this week, Trump said that could "very well be" but gave no details.

The entertainment industry reacted with a mixture of alarm and bafflement on Monday after President Donald Trump said he would put a 100% tariff on all movies produced outside the U.S., but issued few details on just how such a levy would work. Trump's Sunday announcement was the latest in his series of levies and threats on various global industries in an effort to boost industrial activity in the United States.

U.S. tariff negotiators appeared reluctant to lower levies on cars, steel and aluminium in a recent meeting with Japanese counterparts - a stance that made the Japanese side feel that cooperation could be difficult, the Nikkei newspaper reported on Friday, Reuters reported. U.S. negotiators including Treasury Secretary Scott Bessent met with Japan's top trade negotiator, Ryosei Akazawa and other Japanese officials in Washington on Thursday and presented a proposed framework for a trade agreement, the paper said.

Small-value packages shipped to the US from China will no longer be exempted from tariffs starting Friday, when President Donald Trump’s move against an exception he called a “big scam” takes effect, Bloomberg News reported. The decision to end the so-called “de minimis” exception is expected to have wide-ranging effects on American consumers who have increasingly purchased cheap clothing, household goods and other products from discount Chinese marketplaces such as Temu and Shein Group Ltd. It could also deal a heavy blow to independent online sellers who rely on Chinese imports.