Vice President J.D. Vance reportedly said the U.S. and U.K. are currently "working very hard" on a trade deal and that there's a "good chance" the two sides will come to an agreement.

China is facing a double whammy: corrosive deflation and tariffs that threaten to block trade. Chinese workers will be the biggest casualties.

Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a global trade war — all while on-again, off-again new levies further escalate uncertainty.

Ford has halted shipping expensive Raptors, Mustangs and more to China as tariffs soar to 150%. It still exports some engines and transmissions.

Ford Motor said on Friday it has halted shipments of its SUVs, pick-up trucks and sports cars to China, as it starts to face the heat from retaliatory tariffs that have seen vehicles face taxes as high as 150%.

Ford's vehicle prices could rise this summer if 25% auto tariffs remain in place, the company said in a memo to dealers.