The U.S. is South Africa's second-largest bilateral trading partner after China. South Africa's central bank governor has said the proposed tariff could cause around 100,000 job losses, with the agriculture and automotive sectors hit hardest.

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.

The US and the EU will have zero tariffs on aircraft and their components, some chemicals, some generic drugs, some semiconductors, some agricultural products and essential raw materials. Alcoholic beverages are not included in the agreement. The 50% tariffs on steel and aluminum remain.

Oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating.

The Philadelphia Phillies and Pittsburgh Pirates could link up on a big trade deadline deal to send David Bednar to Philadelphia in the coming days.

WASHINGTON (Reuters) -U.S. President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug. 1 deadline.

The dollar hit a one-month high versus the euro on Tuesday in the wake of a string of trade agreements between the United States and its major trade partners, while markets await interest rate decisions from the Federal Reserve and the Bank of Japan.

The Toronto Blue Jays have been one of the best teams in baseball this year, but they'll need to make a few upgrades at the trade deadline to keep it that way.