29 minutes ago Donald Trump’s trade tariffs could cost US consumers $2,400 a year – business live

Rolling coverage of the latest ecoonomic and financial newsTrump vows tariffs on Mexico and Canada and deeper tariffs on ChinaThe US president-elect’s social media post announcing 25% import tariffs on products from Mexico and Canada, and 10% from China, when he takes power in January has sent global stockmarkets into a spin.Research by ING has estimated that if the costs of the new tariffs are fully passed on to consumers, then Americans will face having to pay $2,400 more per capita annually for goods.“President-elect Donald Trump has promised to implement sweeping new tariffs aimed at protecting American industries, promoting domestic manufacturing, and reducing reliance on foreign imports.“However, tariffs imposed during the first Trump term – and continued and extended under Biden ...

Economics

43 minutes ago Germany joins backlash against drive towards electric cars: Olaf Scholz criticises EU fines for carmakers missing net zero targets amid industry fury over EV sales quotas

Chancellor Olaf Scholz has hit out at the European Union's zero emission vehicle plans, which require a 15 per cent emissions cut among new cars and vans by next year.

Events

69 minutes ago FTSE 100 Live 26 November: Markets weaken on Trump tariff threat, Halfords urges levy reform

Donald Trump’s tariff plans and the Budget fallout continue to be the main areas of focus for traders.

Politics

2 hours ago Levi’s and Jack Daniel’s ‘on tariff hit list’ if Trump targets Britain

PM urged to ‘Trump-proof’ Britain if president-elect imposes levies on UK imports to the US

Events

8 hours ago China and Canada respond to Trump’s tariff threats and border comments – live

China’s embassy in Washington has responded to Trump’s announcement, saying that no one will win a trade war or tariff war’Prosecutors drop federal cases against TrumpCorey Lewandowski, an adviser to Donald Trump, has said that he and the president-elect have “no concerns at all” regarding Pete Hegseth’s confirmation by the Senate as the next US secretary of defense.During an appearance on NewsMax, Lewandowski was asked if Trump had any concerns about Hegseth and his nomination, to which Lewandowski responded: “We have no concerns at all.” Continue reading...

Politics

10 hours ago Trump threatens Mexico, China, and Canada with tariffs over immigration and drugs

Tariffs would likely have major impact on U.S. economy and North American trade agreement Trump helped negotiate

Events

10 hours ago Trump to take drastic action against Canada, Mexico and China to stop the border 'invasion' and issues an ultimatum

President-elect Donald Trump threatened Monday to slap a 25 percent tariff on Mexican and Canadian goods as long as the countries allowed immigrants to flow over the U.S. border.

Politics

19 hours ago Watch live: Rachel Reeves delivers CBI speech as chancellor insists ‘no alternative’ to tax rises

Watch live as Rachel Reeves delivers her CBI speech on Monday (25 November) as the chancellor insists there is “no alternative” to tax rises.

Politics

26 hours ago FTSE 100 Live 25 November: Kingfisher slides after update, dollar lower on US Treasury pick

Kingfisher shares are down sharply after the B&Q owner warned of tougher trading conditions in the UK and France.

Politics