President Donald Trump said that he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug.

Good morning. Donald Trump zeroes in on drug tariffs. Rachel Reeves pledges to overhaul banking ring-fence rules. And Labubus are paying off big for this toy company. Listen to the day’s top stories.

Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.

Egg prices cooled significantly in June, deviating from an overall rise in prices. The price of eggs climbed 27% over the year ending in June, which marked a slowdown from 41% year-over-year growth in May. Under Trump, inflation has defied doomsday predictions and helped to propel sturdy economic performance.

Chipmaking equipment supplier ASML said the impact of US tariffs was “a bit less negative than we anticipated”, as artificial intelligence drove strong orders for its lithography machines.

President Trump's planned 50% tariffs on Brazilian exports could affect planemaker Embraer's (NYSE:ERJ) revenues similar to the impact of the COVID-19 pandemic, CEO Francisco Gomes Neto said Tuesday.

Gov. Gretchen Whitmer is warning that President Donald Trump’s “chaotic policies” on tariffs will cost Michigan residents thousands of dollars each year.

ABC News’ Linsey Davis is joined by former minister of foreign affairs in Russia Andrei Kozyrev to discuss President Trump’s tariff threats against Russia and how Vladimir Putin may react.