EU retaliation against Trump drug tariffs would be bad idea, says industry

European pharmaceutical body says it would be ‘negative for both sides’ if Brussels hits back on threatened US levies

EU ready for trade deal with US but ‘all options on the table’, says von der Leyen

European Commission president says EU will ‘defend the European interest as needed’ as Trump threatens 50% steel tariffs

Former leaders urge current state heads to work together to end poverty amid potential of first trillionaires emerging

Data shows 16.1% jump as Bank of England suggests influx of cheaper goods could bear down on inflation

Oil prices could rise if Iran goes ahead with threat to shut down shipping in the strait of Hormuz

Starmer should secure deal as soon as possible to exempt UK steel from US levies, says Community union

Grocers turning to Australia, Poland and Uruguay for meat, prompting claim they are undermining British farmers

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffs

Optimism is growing in Brussels, but high-risk strategy has only weeks to play out before pause in tariff threat ends

US, Mexico and Canada economies likely to be worst affected by ongoing tariff battles, says forecast

Morocco’s commercial centre has brought investment to the continent – but critics say it masks domestic inequality

Wall Street up in early trading after US president commends bloc for calling to ‘quickly establish meeting dates’

Vulnerable countries to pay record $22bn this year, mostly relating to loans issued under Xi Jinping’s belt and road initiative

Data from hotel site Trivago shows fewer US bookings by holidaymakers from Canada, Japan, Mexico and Germany

European leaders call for ‘lowest possible’ border taxes after levies postponed from 1 June to 9 July