New South Korean President Lee Jae Myung and U.S. President Donald Trump agreed during telephone talks on Friday to work toward a "mutually satisfactory" agreement on U.S. tariffs at an early date, South Korea's presidential office said.

US trade data published on Thursday provides the first opportunity to see how Trump’s “liberation day” trade war, unveiled on April 2, applied in practice that month. The “effective tariff rate” calculation cuts through the tangle of headline rates to measure the duties as a percentage of actual import value.

Axios Visuals It's hard to overstate how rapidly President Trump has changed the very underpinnings of U.S. trade policy since the start of February. But this chart sums it up. Why it matters: Trump is seeking to reset America's economic relationship with the rest of the world.

President Donald Trump said he spoke Thursday with China’s leader, Xi Jinping, breaking the monthslong silence between the two men. It represents a significant, positive step for China-U.S. relations as the two countries work to deescalate a trade war Trump started this spring by levying 145 percent tariffs on China.

President Donald Trump says his first conversation with Chinese leader Xi Jinping since returning to the White House had a “very positive conclusion,” announcing the two countries will hold trade talk