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President Donald Trump has signed off on a plan to defer U.S. tariffs for most-favored nations for three months, according to a source familiar with the decision.

Nine Democratic U.S. senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds to customers canceling flights during the coronavirus pandemic after Congress approved a massive rescue package for the hard-hit industry.

Panama has in recent years invested billions of dollars to establish itself as a top commercial, logistical and air transport hub in the Americas.

Nine Democratic U.S. senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds to customers canceling flights during the coronavirus pandemic after Congress approved $25 billion in cash grants for the hard-hit industry.

American Airlines Group Inc is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said.

China has not approved any new Brazilian meat plants for export this year because of the coronavirus pandemic, an official at Brazil's Agriculture Ministry told Reuters, adding that all approvals were on hold until the crisis eases.

India has asked its ports to waive demurrage and other charges for any delays in arrival, berthing and other operations of ships caused by a 21-day lockdown to contain the spread of the coronavirus, a government statement said.

American Airlines Group Inc is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said.

Kenya Airways has sought an undisclosed sum from the government to help to cover critical costs such as payment of staff salaries, its chairman said on Tuesday.

The unprecedented oil demand plunge in the COVID-19 pandemic is poised to change the oil sector forever, as fewer companies holding high-quality assets emerge after the downturn, Goldman Sachs said on Monday.

British aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

Canada will waive ground lease rents for airports until December 2020, providing relief worth C$331.4 million ($233.4 million) to help the air transport sector deal with the coronavirus outbreak, Ottawa said.

Ralph Lauren Corp said on Tuesday it drew down $475 million from an existing credit line and stopped share buybacks, as it looks to beef up cash reserves to cope with the financial blow from the coronavirus pandemic.

A resurgence of the coronavirus may scupper forecasts of a recovery in air passenger demand by the end of the year and strong growth in 2021, the chief economist of a global airline trade body warned on Tuesday.

China has not approved any new Brazilian meat plants for export this year because of the coronavirus pandemic, an official at Brazil's Agriculture Ministry told Reuters, adding that all approvals were on hold until the crisis eases.

Ivory Coast's cocoa board has temporarily suspended Cargill [CARGIL.UL], Barry Callebaut and some other traders from buying new beans, it said on Tuesday, claiming they have already exceeded their contracted exports for this season.

Indian airline SpiceJet Ltd said on Tuesday it would cut employee salaries by 10% to 30% in March as a nationwide lockdown to contain the spread of the coronavirus crimps travel demand.

China has agreed to allow imports of Canadian canola to resume, two sources briefed on the matter told Reuters on Tuesday, lifting a ban in place since March 2019 that had halted $2 billion worth of trade.

Canada's main stock index futures rose on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks aimed at stabilising energy markets, and China posted an unexpected expansion in factory activity.