The One Big Beautiful Bill Act would pay for Trump’s campaign promises to make his 2017 tax cuts permanent, cut other taxes and boost spending for the border and defense.

U.S. President Donald Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that’s set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further.

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.

South Korea said newly elected President Lee Jae-myung spoke for the first time with Donald Trump and agreed to seek “tangible results” in trade negotiations, after the US leader imposed a 25% tariff on all imports from its Asian ally.

China and the U.S. have agreed to more tariff talks amid a trade standoff and concerns over rare earths, President Donald Trump said Thursday after a call with China's leader. Trump and Chinese leader Xi Jinping spoke on Thursday at a time when stalled tariff negotiations between their two countries have roiled global trade.