French supermarket groups Casino and Intermarche are being investigated under an EU antitrust inquiry over a buying alliance formed five years ago which regulators said could have been used to illegally coordinate their actions.

The US and China are reportedly “close to finalising” the first phase of a trade agreement after high-level officials spoke over the phone Friday, the US Trade Representative’s office announced. If successful, the first phase of the deal would postpone an upcoming increase of tariffs on Chinese goods in exchange for Beijing drastically increasing imports of American crops.

The World Trade Organisation (WTO) formally ruled on Monday that the United States is free to take countermeasures against the European Union and Airbus-producing countries Britain, France, Germany, and Spain. This way the President Donald Trump administration no longer faces any legal obstacles for its set of previously scheduled sanctions on billions of dollars of European products that could now take effect on Friday.

The US government widened its trade blacklist to include some of China’s top artificial intelligence startups, ratcheting up tensions ahead of high-level trade talks in Washington this week. The decision, which drew a sharp rebuke from Beijing, targets 20 Chinese public security bureaus and eight companies including video surveillance firm Hikvision, as well as leaders in facial recognition technology SenseTime Group Ltd and Megvii Technology Ltd.

An escalating battle over aircraft subsidies between the US and the European Union threatens to damage both sides, said Airbus SE Chief Executive Officer Guillaume Faury. He will thus continue to advocate for a settlement between the two sides before the imposition of tariffs becomes a "lose-lose game" for both of them.

After almost 20 years, the Republic of Korea lifted its import restrictions on beef and beef products from some European Union Member States, with producers from Denmark and the Netherlands being the first ones to be able to resume exports.

US President Donald Trump announced on Wednesday that Washington and Tokyo had taken a major step towards sealing a comprehensive new trade deal, after a year of negotiations between the global economic powers. Sitting next to Japanese Prime Minister Shinzo Abe, Trump said the leaders "formally announce the first stage of a phenomenal new trade agreement. The pact is a rare trade success for the president who has struggled to secure pacts with other trade partners, including China.

South Korea said Wednesday it will file a complaint to the World Trade Organisation over Japan's "politically motivated" export restrictions, upping the ante in an intensifying dispute with the neighbour.

In a sharp escalation of the Trans-Pacific trade war the US is on a way to impose fresh tariffs on a range of Chinese goods, news wires reported. Starting from 1 September, a renge of Chinese products will be hit with 15% duties worth billions of dollars. By the end of the year, Washington aims to impose tariffs on almost all Chinese imports into the US. Beijing reacted by saying it has "ample" means to retaliate, while also calling for both sides to continue trade negotiations.

Japan and the United States have reached a broad agreement in trade negotiations, AFP reported Sunday, with the leaders of both countries expected to hold talks on the sidelines of the G7 summit.