The United States will aim for Britain to reduce its automotive tariff from 10% to 2.5%, the Wall Street Journal reported on Tuesday, citing people with knowledge of a draft document circulated by the administration of President Donald Trump.
Most Asian stocks rose sharply on Wednesday, tracking an overnight rally on Wall Street after U.S. President Donald Trump flagged an eventual lowering in steep trade tariffs against China.
Oil prices climbed more than 1% on Wednesday, extending the prior day’s gains, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from President Donald Trump towards the Federal Reserve.
The U.S. dollar rose Wednesday, continuing the previous session’s sharp rebound after President Donald Trump backed away from his criticism of Federal Reserve Chairman Jerome Powell, while trade tensions between the U.S. and China also lessened.
Thailand’s industrial sentiment in March fell for the first time in three months, with a future index pointing to a further fall on concerns about U.S. tariffs, the Federation of Thai Industries said on Tuesday.
Vietnam’s trade ministry has issued a directive to crack down on illegal transhipment of goods to the United States and other trading partners as it tries to avoid steep U.S. tariffs, according to a document reviewed by Reuters.