Company executives warn over impact of tariffs

Several firms have cut their profit forecasts or withdrawn them citing economic uncertainty.

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Technology giant Intel, footwear maker Skechers and consumer goods firm Procter & Gamble, have either cut their profit forecasts or withdrawn them citing economic uncertainty.

US President Donald Trump has been trying to rebalance relations with key trading partners by using steep tariffs to bring them to the negotiating table.

No new trade agreements between the US and other countries have been announced yet but there have been signs of progress in talks with South Korea.

"The very fluid trade policies in the US and beyond, as well as regulatory risks, have increased the chance of an economic slowdown with the probability of a recession growing," said Intel's chief financial officer, David Zinsner, during a call with investors.