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Renault's board has adjourned a meeting to examine the merger proposal pitched last week by Fiat Chrysler until Wednesday afternoon, the French carmaker said.

President Donald Trump on Tuesday said he would probably defy Mexico, U.S. business groups and lawmakers from his own party and impose new tariffs on imports of all goods from Mexico to pressure authorities there to clamp down on illegal immigration into the United States.

U.S. Senate Majority Leader Mitch McConnell said on Tuesday there was "not much support" among his fellow Republicans for President Donald Trump's proposed tariffs on Mexico.

Major automakers are assessing the cost of tariffs that U.S. President Donald Trump has threatened to impose on Mexican imports, both to themselves and their supply chain, and are planning to delay some vehicle shipments, people briefed on the plans told Reuters on Tuesday.

U.S. President Donald Trump may finally get the rate cut he has been demanding, but for the wrong reasons, as top Federal Reserve officials began warning this week that the global trade war may force them to respond.

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Wall Street's three major indexes rallied on Tuesday to clock their biggest one-day gains in five months after Federal Reserve Chair Jerome Powell left the door open for a possible rate cut.

Fiat Chrysler has resolved key differences with France over its proposed merger with Renault, three sources told Reuters, as talks on the $35 billion tie-up plan progressed towards a possible agreement on Wednesday.

President Donald Trump on Tuesday said he would probably defy Mexico, U.S. business groups and lawmakers from his own party and impose new tariffs on all imports from Mexico to pressure authorities there to clamp down on illegal immigration into the United States.

U.S. Vice President Mike Pence will host Mexican leaders at the White House on Wednesday for talks aimed at pressuring authorities to clamp down on migrants heading for the southern U.S. border, a White House spokesman said on Tuesday.

Defying increasing criticism from within his own party, U.S. President Donald Trump said on Tuesday he would likely go ahead with new tariffs on imports from Mexico to pressure it to clamp down on rising numbers of migrants entering the United States.

The San Francisco Public Utilities Commission said on Tuesday it has hired an adviser to explore the potential acquisition of PG&E Corp's distribution assets, sending shares of the power company up 2.6% at $18.37.

U.S. President Donald Trump backtracked on comments that Britain's public health service should be on the table in future post-Brexit trade talks between the two countries, after Prime Minister Theresa May said some areas might be off-limits.

U.S. President Donald Trump rowed back comments that Britain's health service could be involved in any future trade deal on Tuesday, after his remark that everything was on the table in talks sparked controversy in Britain.

Nigel Farage, leader of the Britain's Brexit party, said U.S. President Donald Trump told him in a meeting on Tuesday that he was concerned at how long it was taking Britain to leave the European Union.