A new tariff simulator shows Chinese exports to the US could plummet without a trade deal, and be redirected towards Southeast Asia and Russia.

They’re talking right now, but the decision-maker, of course, is President Trump,” Lutnick said of the state of negotiations with China.

United Parcel Service reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies.

TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.

Prices have risen a tad on some items especially affected by tariffs. But for the most part, companies are finding ways to delay price increases — for now.

The Federal Reserve is slated to announce its latest interest-rate decision, and investors will scour the July jobs report. Earnings season marches on, with four of the “Magnificent Seven” names headlining a packed schedule.

The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.

The United States has struck deals over tariffs with some of its key trading partners — including Britain, Japan and the European Union — since President Donald Trump announced “Liberation Day” tariffs against dozens of countries in April. China remains perhaps the biggest unresolved case.

One economist told Newsweek that companies may be wary of "consumer backlash" if they hike prices to mitigate the tariffs' impact.