Under the transatlantic trade deal, proposing the legislation would unlock a reduction in U.S. tariffs on European cars to 15 percent from 27.5 percent.

Oil prices were little changed on Wednesday, after falling in the previous session, as the market awaits massive new U.S. tariffs on India, the world's third-largest crude consumer, in response to its purchases of Russian supply.

Levies and restrictions could hit UK’s digital services tax and EU states such as France, Italy and Spain.

President Trump announced a major investigation into imported furniture, a move that could lead to higher tariffs on an industry that has already seen prices rise due to tariffs.

Multiple postal operators across Europe are suspending most package shipments to the United States, citing uncertainty, confusion and rising costs linked to forthcoming U.S. customs regulations on low-value imports.

The Prime Minister says there's no suggestion the US President will budge on a 15 percent trade tariff for New Zealand exports.

Though the US imposed an additional 25 per cent tariff on India for its energy ties with Russia, it has not initiated similar actions against China, the largest buyer of Russian crude oil.

Following threats from Washington, the EU agreed to a 15% tariff on most of its exports to the US, including cars. European winemakers, however, are not happy with the trade deal.

The Trump administration has quietly expanded its 50% steel and aluminum tariffs to include more than 400 additional product categories, vastly increasing the reach and impact of this arm of its trade agenda.

Following the US tariff announcement on July 31, 2025, Vietnam is actively pursuing a favorable trade deal with the US by implementing reforms and enhancing its trade network, while also advocating for recognition as a market economy to alleviate high anti-dumping duties.