National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.

President Donald Trump recently issued a raft of new tariff threats, including steep rates on dozens of countries and a new duty on copper imports.

The president left the door open for talks with his Russian counterpart but complained about Russia’s continued aerial attacks on Ukraine.

The US president says he is "disappointed" in Putin and will be sending "top-of-the-line" weapons to Ukraine, via Nato.

Trump said the United States would put secondary tariffs on countries that do business with Russia if a peace deal is not reached in 50 days.