Questions also remain over whether Mr Sunak will go ahead with the economic statement due to be delivered by Jeremy Hunt on 31 October amid the market turmoil caused by Ms Truss’s tax-slashing mini-budget.
One Treasury source told Sky News’ political editor Beth Rigby it was “very possible” it will be delayed.
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Foreign Secretary James Cleverly told Sky News this morning he had not had “specific confirmation of dates”, but added: “We know it needs to come soon.”
Image: 11 members of Liz Truss’s top team are following her out of the door
Mr Sunak has held calls with several world leaders after being appointed PM yesterday, including US President Joe Biden and Ukraine’s Volodymyr Zelenskyy.
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The White House said Mr Biden – who had mispronounced Mr Sunak’s name during a Diwali celebration on Monday – congratulated him on his appointment.
Both leaders “reaffirmed the special relationship” between the UK and US – and “agreed on the importance of working together to support Ukraine and hold Russia accountable for its aggression”.
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0:31
Biden gets Sunak’s name wrong
And during a conversation with Mr Zelenskyy, the Ukrainian president was assured that British support for the wartorn country would be “as strong as ever” under his premiership.
In a stark contrast with his predecessor, Mr Sunak also made time to speak with Scotland’s First Minister Nicola Sturgeon, and Welsh First Minister Mark Drakeford.
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7:39
Reshuffle: How the day unfolded
A new-look cabinet
The new PM – the third this year – will hold a meeting of his new-look cabinet this morning after a raft of senior appointments yesterday afternoon.
Mr Sunak’s top team of ministers consists of allies, former Truss backers and a number of figures from the right wing of the Conservative Party.
There’s been an element of continuity with the previous administration, with Mr Cleverly kept on as foreign secretary and Ben Wallace as defence secretary.
The PM has also revived the careers of experienced frontbenchers including Dominic Raab and Michael Gove, who were sacked by Boris Johnson in the dying days of his government.
But it is Mr Sunak’s decision to reappoint Ms Braverman as home secretary – days after she dramatically quit the government for breaching the ministerial code – that has been the most controversial.
Labour have accused Mr Sunak of “putting party before country” – with shadow home secretary Yvette Cooper warning: “Our national security and public safety are too important for this kind of chaos.”
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How ‘profound’ are our economic woes?
Rishi Sunak’s in-tray
Over the coming days, Mr Sunak will begin the gruelling task of uniting the Conservatives and attempting to restore the UK’s economic credibility.
The pound hit a six-week high on Tuesday in a sign that the markets approve of the country’s new leader.
Jeremy Hunt, who is staying on as chancellor after being parachuted into the role by Ms Truss following the mini-budget, is currently due to give a fiscal statement on 31 October.
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‘Tories out’: Sunak heckled outside No 10
But according to The Times, Mr Sunak – himself a former chancellor – is considering postponing this statement so he has more time to “get under the bonnet” of the Treasury’s plans.
Mr Cleverly could not confirm a date when interviewed on Sky News, but said: “We know it needs to come soon. We know people want certainty.
“We know people want a clear idea of the government’s plans [but] whether it happens exactly on that day, I’m not able to confirm.”
The government is currently grappling with how best to plug a £40bn black hole in the country’s finances, amid reports both men will discuss proposals to increase taxes while squeezing public spending.
A Number 10 source has told Sky News that no decisions have been taken when it comes to pushing back the fiscal statement.
Richard and Yalda are joined by one of the world’s most eminent historians and political commentators to discuss culture wars, trade wars, and the possibility of World War Three over Taiwan.
Sir Niall says the US may be in the stage of “buyer’s remorse” with the Trump presidency, and predicts that by this time next year, he could be “deeply underwater” in the polls.
To get in touch or to share questions for Richard and Yalda, email theworld@sky.uk
Click here to visit their YouTube channel where you can watch all the episodes.
Ms Pasquet said: “A lot of the African-American soldiers had really loved their experience here and had brought back the cognac. And I think that stayed because this African-American community truly is a community and they want to drink like their grandfather did.”
The ties remain with rappers like Jay Z’s love for cognac.
However, Ms Pasquet adds: “There’s also this other community of people who have been drinking bourbon for a long time, love bourbon, but find the prices just outrageous today. So they want to try something different.”
Image: Amy Pasquet owns JLP Cognac with her husband
JLP’s products were served at New York’s prestigious Met Gala.
They were preparing to launch new product lines in the US. But now that’s in doubt.
It is hard being an American in France now, Ms Pasquet says.
She continues: “They’re like, okay, America’s forgotten how close France and America are as far as (their) relationship is concerned. And I think that’s hurtful on both sides. I think it’s important to remember that the US is many things, and not just this one person, and there are millions of inhabitants that didn’t vote for him.”
A fresh challenge for a centuries-old tradition
Making cognac takes years, using techniques that go back centuries. In another vineyard we met Pierre Louis Giboin whose family have been doing it for more than 200 years.
In a cellar dating back to the French Revolution, barrels of oak sit under thick cobwebs, ageing the brandy.
The walls are lined with a unique black mould that thrives off the vapours of cognac.
They have seen threats come and go over those centuries, wars, weather, pestilence. But never from a country they regard as one of their oldest allies and best of customers.
Image: Pierre Louis Giboin’s cellar dates back to the French revolution
Mr Trump’s tariffs, says Mr Giboin, now threaten a way of life.
“It’s at the end of like very good times in the Cognac region. It’s been like 10 years when everything’s been perfect, we have good harvest, we sell really easily all the stock, but now I mean it’s the end.”
Ms Pasquet and Mr Giboin are unusual.
Most cognac makers sell their produce through the drink’s four big houses, Hennessy, Remy Martin, Martell and Courvoisier.
Some have been told the amounts they can sell have been drastically reduced.
Independents though like them must find new markets if the tariff threat persists.
Confusion away from the chaos
Outside in the dappled light of a Cognac evening Mr Giboin and I toast glasses of pineau – the diluted form of cognac drunk as an aperitif.
In this idyllic corner of France, a world away from Washington, Mr Trump’s trade war on Europe simply makes no sense.
“He’s like angry against the whole world and the way he talks like that Europe the EU was made against the US to cheat on the US. It’s just crazy to think like this,” Mr Giboin says.
It’s not just what Mr Trump’s done. It’s how Europe now strikes back that concerns the French. And it’s not just in Cognac where they’re concerned
France exports more than €2bn worth of wine to America.
In the heart of the Bordeaux wine region, Sylvie Courselle’s family have been making wine since the 1940s at their Chateau Thieuley vineyard.
It’s bottling season but they can’t prepare the wine headed for America while everything is up in the air.
Showing me the unused reels of US labels for her wine she told me she was losing sleep over the uncertainty.
Later she was meeting with her American distributors.
Gerry Keogh sells Ms Courselle’s wine across the US.
He says the entire industry is reeling
Image: Sylvie Courselle with distributers
Image: The Chateau Thieuley vineyard in the Bordeaux wine region
“I think it’s like anything. You don’t really believe it’s happening. And even when you’re in the midst of it, it was kind of like 9/11.
“You’re like… This is actually happening. It’s unbelievable. And when you start seeing the repercussions from the stock market, et cetera, and how it’s impacting every level, it’s quite shocking.”
They know the crisis is far from over and could now escalate.
“We feel stuck in the middle of this commercial war and we don’t have the weapons to fight, I think,” Ms Courselle said.
It is, she says, very stressful.
Image: Gerry Keogh
The histories of America and France have been intertwined for centuries through revolutions against tyranny and two wars fighting for liberty.
America used to call France its oldest ally, but under Donald Trump its now seen here as turning on France and the rest of Europe in a reckless and unjustified trade war.
It is all doing enormous harm to relations between the US and its European allies.
How Europe now decides to retaliate will help determine the extent of that damage.
Ms Pasquet said: “A lot of the African-American soldiers had really loved their experience here and had brought back the cognac. And I think that stayed because this African-American community truly is a community. and they want to drink like their grandfather did.”
The ties remain with rappers like Jay Z’s love for cognac.
However, Ms Pasquet adds: “There’s also this other community of people who have been drinking bourbon for a long time, love bourbon, but find the prices just outrageous today. So they want to try something different.”
Image: Amy Pasquet owns JLP Cognac with her husband
JLP’s products were served at New York’s prestigious Met Gala.
They were preparing to launch new product lines in the US. But now that’s in doubt.
It is hard being an American in France now, Ms Pasquet says.
She continues: “They’re like, okay, America’s forgotten how close France and America are as far as (their) relationship is concerned. And I think that’s hurtful on both sides. I think it’s important to remember that the US is many things, and not just this one person, and there are millions of inhabitants that didn’t vote for him.”
A fresh challenge for a centuries-old tradition
Making cognac takes years, using techniques that go back centuries. In another vineyard we met Pierre Louis Giboin whose family have been doing it for more than 200 years.
In a cellar dating back to the French Revolution, barrels of oak sit under thick cobwebs, ageing the brandy.
The walls are lined with a unique black mould that thrives off the vapours of cognac.
They have seen threats come and go over those centuries, wars, weather, pestilence. But never from a country they regard as one of their oldest allies and best of customers.
Image: Pierre Louis Giboin’s cellar dates back to the French revolution
Mr Trump’s tariffs, says Mr Giboin, now threaten a way of life.
“It’s at the end of like very good times in the Cognac region. It’s been like 10 years when everything’s been perfect, we have good harvest, we sell really easily all the stock, but now I mean it’s the end.”
Ms Pasquet and Mr Giboin are unusual.
Most cognac makers sell their produce through the drink’s four big houses, Hennessy, Remy Martin, Martell and Courvoisier.
Some have been told the amounts they can sell have been drastically reduced.
Independents though like them must find new markets if the tariff threat persists.
Confusion away from the chaos
Outside in the dappled light of a Cognac evening Mr Giboin and I toast glasses of pineau – the diluted form of cognac drunk as an aperitif.
In this idyllic corner of France, a world away from Washington, Mr Trump’s trade war on Europe simply makes no sense.
“He’s like angry against the whole world and the way he talks like that Europe the EU was made against the US to cheat on the US. It’s just crazy to think like this,” Mr Giboin says.
It’s not just what Mr Trump’s done. It’s how Europe now strikes back that concerns the French. And it’s not just in Cognac where they’re concerned
France exports more than €2bn worth of wine to America.
In the heart of the Bordeaux wine region, Sylvie Courselle’s family have been making wine since the 1940s at their Chateau Thieuley vineyard.
It’s bottling season but they can’t prepare the wine headed for America while everything is up in the air.
Showing me the unused reels of US labels for her wine she told me she was losing sleep over the uncertainty.
Later she was meeting with her American distributors.
Gerry Keogh sells Ms Courselle’s wine across the US.
He says the entire industry is reeling
Image: Sylvie Courselle with distributers
Image: The Chateau Thieuley vineyard in the Bordeaux wine region
“I think it’s like anything. You don’t really believe it’s happening. And even when you’re in the midst of it, it was kind of like 9/11.
“You’re like… This is actually happening. It’s unbelievable. And when you start seeing the repercussions from the stock market, et cetera, and how it’s impacting every level, it’s quite shocking.”
They know the crisis is far from over and could now escalate.
“We feel stuck in the middle of this commercial war and we don’t have the weapons to fight, I think,” Ms Courselle said.
It is, she says, very stressful.
Image: Gerry Keogh
The histories of America and France have been intertwined for centuries through revolutions against tyranny and two wars fighting for liberty.
America used to call France its oldest ally, but under Mr Trump it is now being as turned on, as France, along with the rest of Europe, finds itself in what many would argue is a reckless and unjustified trade war.
It is all doing enormous harm to relations between the US and its European allies.
How Europe now decides to retaliate will help determine the extent of that damage.