Treasury Secretary Scott Bessent told Congress that it is "highly likely" that a pause related to steep new US tariffs on other countries will be extended for countries that are negotiating with the administration "in good faith.

NEW YORK -- The trade deal the U.S. and China hammered out in London this week still leaves American importers saddled with heavy tariff burdens and uncertainty on how to conduct their business, after President Donald Trump said levies of up to 55% would continue to be charged on Chinese goods.

The move is a clear counterpoint to US President Donald Trump’s tariff regime that could hit some African nations with duties as high as 50%.

Bitcoin's decline today is influenced by US-China trade deal outcomes and geopolitical tensions involving Israel and Iran. The potential for future Federal Reserve rate cuts is increasing despite a slight decline in May's headline inflation figures.

Donald Trump has said the US and China’s deal to restore their trade war truce is “done” after two days of marathon negotiations in London. In a post on his Truth Social network on Wednesday the US President hailed a breakthrough reached in bilateral talks in London late the night before.

U.S. and Chinese officials said they had agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths.