98 minutes ago Aston Martin taps shareholders for cash after latest profit hit; Trump’s trade tariffs ‘threaten economic growth’ – business live

Rolling coverage of the latest economic and financial newsTrump’s tariff threat sets stage for bitter global trade warTrump’s tariffs will lead to higher prices in the shops, and weaker currencies for Canada, China and Mexico, explains Holger Schmieding, chief economist at Berenberg Bank.Schmieding saysTaken at face value, such tariffs could raise the level of US consumer prices by c1% within a year if we assume that producers and distributors can pass on roughly 70% of higher import prices to consumers at a time of buoyant domestic demand. However, a depreciation of the Canadian, Mexican and Chinese currencies relative to the US dollar will likely absorb a significant part of that impact, perhaps up to half as a back-of-the envelope guess.Trump’s tariff statement is probably merely the...

Economics

2 hours ago Trump announces trade chief nominee after new tariffs plan rattles China, Canada and Mexico: Live updates

President-elect taps protégé of first term trade chief as US trade representative after announcing proposed tariffs on US’ three biggest trade partners

Politics

13 hours ago Trump’s incoming ‘border czar’ promises secure southern US border as nations hit back at Trump’s tariff plan – live

Tom Homan visits Texas to talk about need for strong borders; US motorists could face higher gas prices if Trump imposes the tariffs he’s threatened Trump’s talk of tariffs raises fears of hit to economies worldwideDonald Trump has used the fentanyl crisis gripping the US to support his ambition to impose trade tariffs on China. It gives the incoming US president an opportunity to both appear to be addressing the narcotics emergency, while also reinforcing one of his key aims in terms of US trade.China is the dominant source of chemical precursors used by Mexican cartels to produce fentanyl, while Chinese money launderers have also become key players in the international drug trade, US authorities say.Trump has said that, as soon as he gets into office, he will impose a 25% tariff on “A...

Politics

16 hours ago Canada PM under pressure to stand up to Trump over tariff plan; US motorists could face higher gas prices – live

China, Canada and Mexico hit back at Trump’s plan to impose higher tariffs amid warnings over impact on American consumersTwo-thirds of Americans think tariffs will lead to higher prices, poll saysTrump’s talk of tariffs raises fears of hit to economies worldwideDonald Trump has used the fentanyl crisis gripping the US to support his ambition to impose trade tariffs on China. It gives the incoming US president an opportunity to both appear to be addressing the narcotics emergency, while also reinforcing one of his key aims in terms of US trade.China is the dominant source of chemical precursors used by Mexican cartels to produce fentanyl, while Chinese money launderers have also become key players in the international drug trade, US authorities say.Trump has said that, as soon as he get...

Politics

20 hours ago Trump’s latest tariff plan aims at multiple countries. What does it mean for the US?

President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States

Politics

20 hours ago UK and EU shares fall after Trump announces tariffs on Canada, Mexico and China... with fears of global trade war

The US president-elect pledged levies on goods coming to America until the countries clamped down on drugs and people smuggling.

Politics

23 hours ago Trump’s threat to impose tariffs on Mexico, Canada and China sends global markets into turmoil: Live updates

President-elect flexes muscles on world stage after securing brace of legal wins

Politics

25 hours ago Trump threatens China, Mexico and Canada with new tariffs. But what does this actually mean for Americans’ pockets?

On the campaign trail, Trump claimed to his supporters that tariffs are ‘not going to be a cost to you, it’s a cost to another country.’ Economists warn this isn’t the case

Politics

25 hours 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