US President Donald Trump said Tuesday that tariffs on semiconductor and pharmaceutical imports would be announced "within the next week or so," as the administration prepares to target key economic sectors in its effort to remake global trade. Trump also added that he was "getting very close to a deal" with China to extend the trade truce that saw the two countries agree to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies. For more, we hear from Jill Disis, Bloomberg News Desk Editor in Hong Kong.

Plus - the S&P 500 was on the brink of all-time highs on Tuesday, before losing steam. In late hours, Advanced Micro Devices gave a stronger-than-expected sales forecast, but warned that its access to the crucial China market remains uncertain. The pullback highlights investor anxiety over the Fed's next move, with economic data complicating the central bank's balancing act between controlling inflation and sustaining growth. Stocks had rallied in the prior session amid growing bets on potential rate cuts after weak jobs data last week. We get perspective from Vishnu Varathan, Head of Economics and Strategy at Mizuho Bank. He speaks with Bloomberg's Heidi Stroud-Watts and Haslinda Amin on The Asia Trade.