tariff

Alex Smith, global sector lead at Third Bridge consultancy said that US tariffs were "a likely headache for the US business", where sales have been stronger than Europe.

South Korea, a close US ally in Asia, has pledged to invest tens of billions of dollars in America, partly to offset tariffs.

There's growing anxiety about what would happen if the US extends its tariffs to areas such as IT and outsourcing.

Last month, the US imposed a 50% tariff on goods from India, which included a 25% penalty for its transactions with Russia.

On Tuesday, it said it would review lower court decisions that found the president did not have the legal authority to enact the tariffs, which were brought in through an emergency economic powers act.