France and Germany have warned about the economic fallout from the 15 percent tariffs European goods face in the U.S.

"We still believe the most likely outcome is slow growth and firm inflation: Not a recession, but a backdrop where the adverse effects of trade and immigration controls on growth outweigh the boost from deregulation and fiscal largesse," Morgan Stanley strategist Michael Zezas wrote.

Barclays first-half profit rose by a better-than-expected 23%, the British bank said on Tuesday, with its markets business reaping bumper returns from the frenzied trading activity sparked by U.S. President Donald Trump's trade tariffs.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

US President Donald Trump says "a lot" of his trade agreement with the UK will be of benefit to Scotland. Following a meeting with Prime Minister Sir Keir Starmer, Trump said he wanted to see Scotland "thrive". The two met at Trump's golf resort in South Ayrshire on the third full day of the US president's private visit to Scotland.

With the president’s new trade deals, US protectionism is slowing investment and rewiring supply chains at the expense of the global economy

VASSOURAS, Brazil (Reuters) -Coffee growers in Vassouras, in Brazil's Rio de Janeiro state, are hoping for an eleventh-hour reprieve before the country is subject to tariffs of 50% on its exports to the United States.

Barclays' first-half profit rose by a better-than-expected 23%, the British bank said on Tuesday, as its markets business reaped bumper returns from the frenzied trading activity sparked by U.S. President Donald Trump's trade tariffs.

Most imports will be more expensive as the president settles on tariff rates up to 20% — the highest they've been in nearly a century.