Futures tracking the S&P 500 and the Nasdaq inched higher on Tuesday as investors assessed U.S. President Donald Trump’s latest tariff salvo and pinned their hopes on fresh negotiations with key trading partners to stave off a full-blown trade war.

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

Host Brazil criticises US president as being ‘very irresponsible’ for vowing extra levies on states aligned to the group