The rate will apply in addition to individual “reciprocal” tariffs targeting countries with which the US runs a trade deficit.

U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.

TOKYO (Reuters) -Japan's leading trade negotiator said on Tuesday that the trade deal Tokyo agreed with the United States last week guarantees Japan will always receive the lowest tariff rate on chips and pharmaceuticals of all the pacts negotiated by Washington.

Canada's main stock index edged higher on Tuesday, led by technology shares, as investors assessed corporate earnings and focused on trade deals with the U.S. ahead of the August 1 tariff deadline.

The Toronto Blue Jays have been one of the best teams in baseball this year, but they'll need to make a few upgrades at the trade deadline to keep it that way.

The US and EU are racing to lock in the final details of their major new trade deal before Friday's deadline. Critics say its a rushed fix, with German Chancellor Friedrich Merz calling the outcome unsatisfying and France’s Bayrou dubbing the EU’s "submission" a "dark day.

India is preparing to face higher U.S. tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline,

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.