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.

Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.

April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.

General Motors' second-quarter earnings took a $1.1-billion hit from tariffs, but the automaker still beat analyst expectations for the period on Tuesday, supported by strong sales of its core gasoline trucks and SUVs.

President Donald Trump said the US reached an agreement with the Philippines setting a 19% tariff on the Southeast Asian country’s exports, a deal Philippine businesses say may push them to look at other markets.

The levies, which are scheduled to take effect Aug. 1, would dramatically escalate U.S. tariff policy and threaten to hike prices for everyday goods ranging from coffee to shoes. Trump delayed the so-called "reciprocal tariffs" in April,

Japan's top tariff negotiator, Ryosei Akazawa, met with U.S. President Donald Trump at the White House on Tuesday, the Asahi newspaper reported on Wednesday.