If secondary sanctions lead to a 10 percent drop in Russia’s oil exports, that could increase the price of Brent crude oil by $6 from its current level of about $71 per barrel, while a 20 percent drop could cause prices to spike by $11, Brooks and Harris wrote.

In an executive order, Trump says "I find that the Government of India is currently directly or indirectly importing Russian Federation oil" and due to those purchases, imports of Indian goods into the United States "shall be subject to an additional ... rate of duty of 25%."

The European Union has suspended retaliatory tariffs on US goods worth €93 billion, after reaching a last-minute deal with Washington.

Swiss President Karin Keller-Sutter said she had a "very good meeting" with U.S. Secretary of State Marco Rubio on Wednesday as Switzerland strives for a deal to avert a crippling 39% tariff on its exports to the United States.

Swiss President Karin Keller-Sutter talks to the medias after a news conference, after meeting in separate bilateral meetings with Chinese and U.S. delegations ahead of trade talks in Geneva, Switzerland,

Switzerland's president held last-gasp talks Wednesday with the US secretary of state after rushing to Washington to avert a surprise steep hike in tariffs -- but her chances of meeting