Latest news and live updates as Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.

The president revived his discredited claims about fentanyl entering the U.S. from Canada to justify his latest proposed rate of 35 percent.

President Donald Trump said in a Thursday letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

Myanmar's ruling military general has asked U.S. President Donald Trump for a reduction in the 40% tariff rate on his country's exports to the U.S. and is ready to send a negotiation team to Washington if needed,

President Donald Trump is threatening to impose 50% tariffs on Brazilian imports — a move that could spike prices of breakfast staples like coffee and orange juice.

St. Louis Fed president Alberto Musalem said Thursday he is undecided about whether tariff inflation will be a one-time increase or longer lasting, underscoring the uncertainty about what direction the central bank will move in the coming months.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.

The Fed’s median target rate is still well above the annual pace of consumer inflation. The odds are low that Fed will cut rates at the upcoming July 30 policy announcement. Read more here.