As the world's largest per capita car producer, Slovakia stands to be hit hardest if U.S. President Donald Trump makes good on his threat to impose a 20 percent tariff on cars imported from the EU, analysts say.

Trump's threat was the latest salvo in an escalating trade war that saw the European Union slap duties on U.S.-made jeans and motorcycles in a tit-for-tat response to U.S. tariffs on European steel and aluminum exports.

The mood is tense at a nail factory in rural Missouri, where workers fear that steel tariffs imposed by President Donald Trump's administration could cost them their jobs.

US President Donald Trump on Saturday said Saudi Arabia's King Salman had agreed to his request to ramp up oil production.

The International Monetary Fund on Friday approved the fourth installment of a $12 billion, three-year loan for Egypt, bringing the total released to date to just over $8 billion.

Canada hit back at the United States on Friday with retaliatory tariffs on American summertime essentials including Florida orange juice, ketchup and Kentucky bourbon in its opening salvo in a trade war with President Donald Trump.

French financial police have seized 10 wineries in the Bordeaux area which are owned by Chinese conglomerate Haichang over suspicions of tax fraud, a police source told AFP on Friday. 

A key measure of US inflation hit a six-year high in May, matching the central bank's target in another sign price pressures are finally rising, the government reported Friday.

Greece's long-term debt prospects are uncertain, the International Monetary Fund said Friday, questioning the country's ability to maintain high budget surpluses to 2060 under a recent eurozone deal.

Inflation in the eurozone rose to the symbolically important level of two percent in June, data showed on Friday, fuelled by high oil prices.

The Indian rupee slumped to an all-time low against the U.S. dollar on Thursday as the currency comes under increasing pressure from rising oil prices.