The S&P 500 hits another record as President Donald Trump announced a trade deal with Vietnam. Separately, his ‘big beautiful bill’ advanced in the Senate. Microsoft is laying off thousands and ADP’s private payroll report shows job cuts.

Shares of Nike and other apparel makers rose on Wednesday after U.S. President Donald Trump said he had struck a trade deal with Vietnam that would impose a lower than initially expected tariff rate on many imports from the Southeast Asian country.

President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.

US President Donald Trump has threatened to impose a "30% or 35%" tariff on Japan if a deal between the two countries is not reached before a deadline next week. That would be well above the 24% tariff Japan was hit with as part of Trump's so-called "Liberation Day" on 2 April,

Donald Trump has threatened to increase levies on Japan and cast doubt that the US will reach a deal with its Asian ally, as he escalated his trade rhetoric days before his pause on some steep tariffs is set to expire.

Heritage Foundation President Kevin Roberts responds to President Donald Trump threatening Japan with a new tariff and Elon Musk's latest social media criticism of the 'big beautiful bill.'