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 White House is now negotiating trade deals with dozens of countries after President Donald Trump paused the worst of his sweeping tariffs for 90 days, as foreign countries suggest the pause will give them breathing room as they seek to reach deals with the Trump administration.

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.