U.S. President Donald Trump is unlikely to follow through on his threat to place 100% tariffs on countries that buy Russian oil because it would worsen politically-damaging inflation pressures and his similar threat against buyers of Venezuelan oil has had limited success,

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

Some commodities have also been subject to individual tariffs. Trump recently announced a 50% tariff on copper imports, effective from 1 August. Steel and aluminium imports are already subject to a 50% tariff from most countries, though in the UK’s case this is 25%.

The White House puts a priority on doing business with Beijing as it prepares for bilateral talks next week.

Aaron Forkash, a scrap metal dealer based in California, plans to continue exporting copper to Asia even after US President Donald Trump's new 50 per cent tariff on the metal comes into force on August 1.

President Trump says he reached a trade agreement with the Philippines following a White House visit by its president. The U.S., the Philippines and other Asian allies are increasing their cooperation to counter China,

China trade has reached a "good place" with reduced tariffs, but said China's 30% share of global manufacturing is unsustainably imbalanced.

President Donald Trump said he is considering rebates to US taxpayers from billions in tariff revenue flowing into the country.