South Korea said newly elected President Lee Jae-myung spoke for the first time with Donald Trump and agreed to seek “tangible results” in trade negotiations, after the US leader imposed a 25% tariff on all imports from its Asian ally.

China and the U.S. have agreed to more tariff talks amid a trade standoff and concerns over rare earths, President Donald Trump said Thursday after a call with China's leader. Trump and Chinese leader Xi Jinping spoke on Thursday at a time when stalled tariff negotiations between their two countries have roiled global trade.

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.

The US trade deficit more than halved in April as President Donald Trump's global tariffs reversed an import surge that preceded the new duties.

The U.S. trade deficit fell by a record amount in April as import demand slowed due to reduced urgency ahead of Trump’s tariffs, according to CNBC. The trade deficit dropped to $61.6 billion in April,