If secondary sanctions lead to a 10 percent drop in Russia’s oil exports, that could increase the price of Brent crude oil by $6 from its current level of about $71 per barrel, while a 20 percent drop could cause prices to spike by $11, Brooks and Harris wrote.

In the same live news conference where Apple announced a new $100 billion US manufacturing plan and presented Trump with a 24-karat gold and glass statue, the president explained that Apple had already done enough to escape his upcoming import taxes on chips:

WASHINGTON — President Donald Trump said Wednesday that he will impose a 100 percent tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.

Swiss President Karin Keller-Sutter said she had a "very good meeting" with U.S. Secretary of State Marco Rubio on Wednesday as Switzerland strives for a deal to avert a crippling 39% tariff on its exports to the United States.

Swiss President Karin Keller-Sutter talks to the medias after a news conference, after meeting in separate bilateral meetings with Chinese and U.S. delegations ahead of trade talks in Geneva, Switzerland,

Switzerland's president held last-gasp talks Wednesday with the US secretary of state after rushing to Washington to avert a surprise steep hike in tariffs -- but her chances of meeting