KEY TAKEAWAYS Treasury Secretary Scott Bessent said the U.S. is "very happy" with the current tariff situation with China, indicating there likely won't be any immediate changes to the trade truce between the two countries.

Treasury Secretary Scott Bessent indicated the US is satisfied with the current tariff set up with China, a signal the Trump administration is looking to maintain calm with its economic rival before a trade truce expires in November.

Sony joins Microsoft and Nintendo in raising gaming console prices following President Donald Trump’s tariffs on China.

Ecuador, meanwhile, is closely tracking tariffs on India to seize on business opportunities, but producers there will go slow on new investments amid uncertainty over whether India and the Trump administration could strike a tariff deal, said Jose Antonio Camposano, president of National Chamber of Aquaculture of Ecuador.

Hundreds of different goods just got a lot more expensive to import into the United States, now that Donald Trump’s 50% tariff on steel and aluminum tariffs has kicked in.

Apple is manufacturing all four of its iPhone 17 models in India ahead of next month's launch, according to Bloomberg. That marks a first for the company, as it tries to mitigate the effects of President Trump's tariffs on products produced in China.

S&P Global said the economic impact of the US president’s “one big beautiful bill” act – which was signed into law in July and includes $3.7 trillion (£2.7 trillion) of tax cuts over the next 10 years – could be offset by his aggressive trade war.

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