President Trump on Wednesday said he would be sending letters to over 150 countries as he plans a barrage of duties to take effect Aug. 1, including levies on pharmaceutical imports and semiconductors.

US consumer prices experienced their largest increase in five months, indicating that tariffs may be beginning to affect

Bizarre letters cite ‘unsustainable’ trade deficits with two of America’s most important allies and trading partners

Trump last week announced higher duties would come into effect on August 1 for imports from a range of countries, including Mexico, Japan, Canada and Brazil, and the European Union

Australia appears to have dodged the prospect of a fresh US tariff hike next week, with Treasury Secretary Scott Bessent saying that countries will “boomerang” back to their April 2 tariff rates by the start of August if they fail to negotiate deals with Washington.