TSMC, the world's main producer of advanced AI chips, is expected to post a 52% jump in second-quarter profit to record levels on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.

President Trump on Wednesday said he would be sending letters to over 150 countries as he plans a barrage of duties to take effect Aug. 1, including levies on pharmaceutical imports and semiconductors.

On July 7, Trump announced 25% tariffs on imports from Japan and South Korea, effective August 1. He also announced separate rates for a number of other countries. On Tuesday, he said letters would be going out soon to dozens of smaller countries notifying them their goods would face a tariff rate of over 10%.

Key Takeaways President Donald Trump said late Tuesday that new tariffs on semiconductors could be coming soon, though Wedbush analysts suggested his stance could soften.The analysts pointed to Nvidia's assurances from the Trump administration of licenses to resume AI chip sales to China,

Donald Trump has proposed huge levies on Brazil, prompting an outspoken response from the CEO of Embraer, which builds vital regional airliners.

President Donald Trump's 30% tariffs on European Union goods could drive up costs across the world's alcohol trade. The EU is eyeing retaliatory measures.

Trump twinned his threat to Brazil with the promise of a 50% tariff on copper, which would strike at the economic lifeline of two more Southern neighbors, Chile and Peru. The president capped his week by setting a 30% tariff on Mexican imports as of Aug. 1.

Trump has set a baseline tariff of 10% on all imports to the United States, as well as additional duties on certain products or countries. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

Financial markets greeted US President Donald Trump’s tariff deal with Indonesia with little fanfare Wednesday, signaling the rate of around 20% that was once viewed as punitive is now seen as workable.

The prime minister pledges to diversify its trading partners away from the US and prioritise the use of Canadian steel.