The US government has refunded $100bn to businesses following a Supreme Court ruling that declared previous tariffs unlawful.

The US has enacted new tariffs ranging from 10 to 12.5 percent on 60 nations, citing inadequate enforcement of forced labour prohibitions. This move has triggered international criticism and potential legal challenges at the World Trade Organization.

US stock futures trended higher as investor sentiment found support in a semiconductor sector revival. Investors are now focused on upcoming tech earnings and the implementation of new trade policies targeting Canadian goods.