The US sent a flurry of ‘trade letters' to numerous countries yesterday, stating that it will impose steep tariffs from 1 August 2025 unless these countries take steps to open their markets to American products. Meanwhile, US President Trump signed an executive order, delaying the deadline for reciprocal tariffs from this Wednesday to 1 August. The stock market reacted swiftly, with US indices closing lower yesterday, but market sentiment appears to have improved slightly overnight as investors focused on the fact that Trump has left the door open for further trade discussions. With a quiet economic agenda today, investors are likely to remain focused on the trade saga and await further developments. Manuel Villegas, Next Generation Research, joins our show today to provide an update on the world of crypto.

• (00:00) - Introduction: Helen Freer, Investment Writing