The Yale Budget Lab noted that the letters sent Monday would hike the effective tariff rate on U.S. consumers to the highest since 1934.

U.S. President Donald Trump on Tuesday said he plans to announce tariffs on imported pharmaceuticals which could reach 200% but he would give drugmakers about one year "to get their act together." "We're going to give people about a year,

The revealing thing here, the poker "tell" if you like, is the extension of the deadline from Wednesday until 1 August, with a possibility of further extensions - or delays - to come.From the US perspective,