President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on India to 50%.

The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.

Wall Street is holding relatively steady on Wednesday following a mixed set of profit reports from such giants as McDonald's and The Walt Disney Co.

The S&P 500 was up 0.2% in early trading. The Dow Jones Industrial Average was up 18 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% higher.

The economic commission of Iran's parliament revived long-delayed plans on Sunday to cut four zeros from the country's plunging currency, as part of efforts to simplify financial transactions.

U.S. trade partners reacted Friday to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face another test from the president's trade agenda.

Trump's order issued Thursday night came after a flurry of tariff-related activity in recent days as the White House announced agreements with various nations and blocs before a deadline set by the president for Aug. 1.

Sweden on Thursday called on the EU to suspend the trade section of its association agreement with Israel over its conduct of the war in Gaza.

"The situation in Gaza is absolutely appalling, and Israel is failing to fulfil its most basic obligations and agreements on emergency aid. Sweden therefore demands that the EU freeze the trade section of the association agreement as soon as possible," Prime Minister Ulf Kristersson said in a post to X, calling on the Israeli government to allow "unhindered humanitarian aid into Gaza."

Canada's support for Palestinian statehood makes a trade deal with Ottawa "very hard", U.S. President Donald Trump said early Thursday.

"Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh' Canada!!!" Trump wrote on Truth Social.

Iran on Thursday described as "malicious" fresh U.S. sanctions targeting a shipping empire controlled by the son of a top political advisor to Iran's supreme leader.

Foreign ministry spokesman Esmaeil Baqaei in a statement called "the new U.S. sanctions against Iran's oil trade a malicious act aimed at undermining the economic development and welfare of the Iranian people".

Turkey will start exporting natural gas from Azerbaijan to Syria from Saturday, the energy minister said on Wednesday.

As President Donald Trump prepares to announce new tariff increases, the costs of his policies are starting to come into focus for a domestic manufacturing sector that depends on global supply chains, with a new analysis suggesting factory costs could increase by roughly 2% to 4.5%.

"There's going to be a cash squeeze for a lot of these firms," said Chris Bangert-Drowns, the researcher at the Washington Center for Equitable Growth who conducted the analysis. Those seemingly small changes at factories with slim profit margins, Bangert-Drowns said, "could lead to stagnation of wages, if not layoffs and closures of plants" if the costs are untenable.

Chinese and U.S. trade officials arrived for a second day of meetings in the Swedish capital Tuesday to try to break a logjam over tariffs that have skewed the pivotal commercial ties between the world's two largest economies.

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng made no public comments to reporters after the first day of talks that lasted nearly five hours behind closed doors at the Swedish prime minister's office Monday.