President Donald Trump's administration took new steps toward imposing tariffs on imported semiconductors and pharmaceutical products Monday.

The vice president did not offer details, but his comments may offer British leaders some comfort after the Trump administration imposed tariffs.

Global markets rose as Trump eased some tech tariffs, boosting stocks, though new trade probes signal tensions are far from over. Follow Newsweek's live blog.

The UK, US, Europe and China rely heavily on Taiwan for semiconductors. The Taiwan Semiconductor Manufacturing Company (TSMC) provides over half of the world's supply, including for AMD, Apple, ARM, ...