India's foreign minister said on Saturday that trade negotiations with Washington are continuing but there are lines that New Delhi needs to defend, just days before hefty additional U.S. tariffs are due to hit.

Federal Reserve Chair Jerome Powell warned that the tariffs unleashed by U.S. President Donald Trump are pushing consumer prices higher and would continue to do so over the coming months.

Price increases could hit tableware, motorcycles and assorted children’s products as a result of the Trump administration’s expansion of 50% steel and aluminum tariffs to an additional 400 goods, analysts said. The fresh levies, which took effect on Monday, extended tariffs on the metal products that Trump initially rolled out in March.

President Donald Trump's increased tariffs on U.S. imports from foreign countries could reduce the national deficit by $4 trillion over the next decade, the Congressional Budget Office estimated on Friday.

Jared Holz, Mizuho, joins 'Power Lunch' to discuss what tariffs mean for the pharma industry, what could be a blockbuster for Eli Lilly and much more.

China has reported its economy showed signs of slowing in July as factory output and retail sales slowed while housing prices fell further.

Under that scenario, headline inflation would stay below 2% until late 2026. The Bank of Canada sets interest rates to achieve and maintain 2% inflation. “The removal of retaliatory tariffs on many products should help quell any lingering concerns at the Bank of Canada about tariff-induced inflation,” Mendes said.

Brazil's state development bank BNDES announced on Friday a fresh credit line of 10 billion reais ($1.85 billion) for companies affected by steep U.S. tariffs.