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President Donald Trump is headed for a showdown with America’s allies at a Group of Seven summit this week in Quebec, with the European Union and Canada threatening retaliatory measures unless he reverses course on new steel and aluminum levies.

Canada’s foreign minister is headed to Washington as the clock ticks down to reach a deal on updating the North American Free Trade Agreement that could pass Congress this year and skirt metals tariffs.

President Donald Trump backed away from the trade deal his administration had just announced with China and said the United States may need to change the direction of talks to get a final agreement.

The Trump administration won’t impose tariffs on Chinese products for now, after the two nations made progress on trade issues during two days of talks, Treasury Secretary Steven Mnuchin said.

The U.S. trade deficit narrowed in March by the most in two years, while last week’s unemployment filings were below estimates and productivity gains remained lukewarm in the first quarter. Here’s what you need to know from the economic reports out the morning of May 3.

The Trump administration sought to temper expectations for a swift breakthrough on trade issues with China as a delegation of senior U.S. officials prepares to visit Beijing this week.

Commerce Secretary Wilbur Ross said talks to revamp NAFTA could drag on for months, even as negotiators step up the pace of discussions to reach an agreement as soon as this month.

One of Europe’s biggest trucking companies is trying to figure out how its business will be affected by a potential tariff war between the United States and the European Union.

President Donald Trump said his trade actions may cause “a little pain” in the short term, and a new study shows U.S. agricultural workers could be hurt the most.

President Donald Trump is dispatching two of his top economic deputies to China in hopes of a quick deal on trade. They may find the reality on the ground more daunting.