The United States on Tuesday announced it would skip doubling steel and aluminum tariffs for Britain, hours after the UK government said the two countries agreed on the need to implement a tariff relief deal as soon as possible.

The Gulf state, which is reliant on the U.S. security umbrella, has pledged to invest $1.4 trillion in the U.S. over the next decade. Its sovereign wealth funds, including Abu Dha

The UK's steel industry has been temporarily spared from Donald Trump's 50% tariffs that came into effect on Wednesday. The US president doubled import taxes for American firms buying steel and aluminium from other countries,

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.

Key Takeaways The U.S. trade deficit fell from an all-time high in March to $61.6 billion in April, the biggest plunge on record.The drop shows that the rush to import items ahead of President Donald Trump’s tariffs has largely ended.