The World Bank has announced that the global economy is projected to experience its slowest growth in over five decades, largely due to the effects of Donald Trump's tariffs.

The US and China have reached an agreement in principle to de-escalate trade tensions, with plans for approval from President Trump and President Xi Jinping.

India is hopeful of reaching a trade agreement with the US before the tariff suspension ends on 9 July, according to India's foreign minister S Jaishankar.