US Treasury Secretary Scott Bessent told Yahoo Finance on Tuesday that he was optimistic about "clarity" on tariffs and progress on key trade deals over the next 90 days, as President Trump simultaneously sought to ramp up pressure on China to come to the negotiating table.

Meanwhile, Trump says he will provide an update today about his administration's approach to duties on semiconductors Nine days ago, a baseline tariff of 10% on almost all foreign imports to the US kicked in,

The U.K. responded to Trump's tariffs by slashing tariffs on 89 British products in a bid to ease strain on British businesses hit hard by the levied taxes.

The sweeping tariffs imposed by U.S. President Donald Trump since April 2 and the subsequent pauses on some of them have generated uncertainty for companies worldwide, causing some of them to withdraw or refrain from giving a financial guidance.