The Treasury is shifting towards shorter-term borrowing, responding to a global sell-off that raises financing costs, with the IMF warning of intensified economic pressure and diminishing demand for longer-dated debt.

European nations are advocating for a rapid accord with Washington to avoid burdensome tariffs, supporting economic stability and bolstering their alliance.

Senior executives in the energy sector caution that shale production could face a downturn, as falling prices and Opec’s decision to raise output lead to concerns over oversupply and prompt companies to reduce capital investments.

Trump threatened a 50% tariff on EU imports, with stalled talks prompting alarm among officials and warnings that major tech firms could face a 25% levy.