Andrew Bailey has warned against “dangerous” US tariffs, urging governments around the world to address global trade imbalances without hammering growth.

The governor of the Bank of England has warned that US tariffs could risk “fragmenting the world economy”. Appearing at Mansion House on Tuesday (July 15) Andrew Bailey spoke about the impact of Donald Trump’s trade tariffs on the world.

The UK's FTSE 100 retreated from record highs touched earlier in the session on Tuesday as rising U.S. inflation raised concerns about the impact of tariffs, while investors also focused on the Bank of England's monetary policy path.

Andrew Bailey warned that 'tariffs creates the risk of fragmenting the world economy' in a speech on Tuesday evening.

French President Emmanuel Macron and his wife are being treated to the best of British pomp and pageantry during their three-day state visit to the U.K.

The U.S., China and other leading economies should work together to agree on a set of national policies that will help narrow the large imbalances that now threaten the global trade system, the Bank of England governor said.

Thirty-year Treasury yields hit their highest in more than a month - within 2 basis points of the 5% threshold. Wall Street stock futures were in the red again after a down day for the main indexes on Friday. The dollar index (.DXY) was a shade firmer.

The UK's FTSE 100 index fell after reaching record highs, impacted by rising U.S. inflation and potential Bank of England rate cuts. Concerns over tariffs affected U.S. markets, whereas British investors remained resilient due to strong UK-U.

A group of Canadian premiers appear to be setting high expectations as they pursue negotiations with U.S. governors to mitigate the impacts of tariffs on their economies.

MATTHEW J. SLAUGHTER is Paul Danos Dean and Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College. From 2005 to 2007, he served on the White House Council of Economic Advisers.

Carrie Healy, NEPM: Governor Maura Healey is hosting a number of northeast governors today and Canadian premiers at the State House to talk about U.S., Canadian trade, tariffs and lots more.

Defending champion England has beaten Sweden on penalties to reach the Women’s European Championship semifinals