1 hour ago JPMorgan now predicts a 60 percent chance of a recession this year as Trump’s tariffs rock stock market

The Dow Jones fell 1,000 points at opening on Friday as investors reels from Trump’s tariff announcement

Economics

2 h. ago FTSE suffers biggest daily drop since early in the pandemic as Wall Street slides again – business live

Global trade war escalates as Beijing hits back against Donald Trump with new tariffs on US goodsChina retaliates to Trump’s ‘bullying practice’ with 34% tariffs on US importsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right ...

Economics

7 h. ago Stock markets plunge as China announces retaliatory 34% tariffs on US goods – business live

Global trade war escalate as Beijing hits back against Donald Trump with new tariffs on US goodsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right to contro...

Economics

10 h. ago IMF warns of ‘significant risk’ to global economy from Trump tariffs as markets plunge

Fund boss Kristalina Georgieva says it is important that US and trading partners avoid escalating trade warBusiness live – latest updatesThe International Monetary Fund (IMF) has warned that Donald Trump’s implementation of swingeing tariffs poses a “significant risk” to the global economy, as stock markets were hit by a punishing worldwide sell-off by investors.Kristalina Georgieva, the managing director of the IMF, said it was important that the US and its trading partners avoided further escalating Trump’s trade war, while stock markets plunged on Friday as China retaliated against the tariffs. Continue reading...

Events

11 h. ago FTSE 100 hits lowest level since January as IMF warns Trump tariffs ‘a significant risk’ to global economy – business live

Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcementGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right to control tariffs, and upset the Constitution’s ...

Events

16 h. ago Asian markets drop further as IMF warns Trump tariffs ‘a significant risk’ to global economy – business live

Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcementFull report: Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsSenior senators introduced new bipartisan legislation on Thursday seeking to claw back some of Congress’s power over tariffs after Donald Trump unveiled sweeping new import taxes and rattled the global economy with sweeping new import taxes.The Trade Review Act of 2025, co-sponsored by Senator Chuck Grassley, a top Republican lawmaker from Iowa, a state heavily reliant on farm exports, and Senator Maria Cantwell, a Democrat from Washington, whose state shares a border with Canada, would require the president to notify Congress of new tariffs, and provide a justification for the action and an analysis on the potential impact on US businesses and consumers. Continue reading...

Events

28 h. ago ‘Creating chaos and crisis’: Democrats slam Trump’s sweeping tariffs as global markets tumble – live

Democrats accuse Trump of ruining US economy on purpose and note the lack of tariffs for RussiaGlobal markets react to Trump tariffs – follow liveAnalysis: Trump promised lower prices – his tariffs risk the oppositeIn the aftermath of the disastrous debate against Donald Trump that ultimately ended his political career, Joe Biden skipped a White House meeting with the congressional Progressive caucus in favor of a Camp David photoshoot with the fashion photographer Annie Leibovitz, a new book says.“You need to cancel that,” Ron Klain, Biden’s former chief of staff and debate prep leader, told the president, as he advocated securing the endorsement of the group of powerful progressive politicians perhaps key to his remaining the Democratic nominee. Continue reading...

Politics

32 h. ago US dollar ‘at risk of confidence crisis’ as Trump tariffs rattle global markets – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy, as US dollar falls to six month low after US President Trump’s ‘liberation day’Full report: Trump announces sweeping new tariffsAnalysis: Trump’s tariffs likely to raise prices and cause chaosWhat are tariffs and why do they matter?The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

33 h. ago FTSE 100 share prices sink after Trump tariffs announcement as analysts warn of high US recession risk

Analysts warning of ‘high risk’ US now enters recession this year after unveiling blanket global tariffs

Events

34 h. ago ANDREW NEIL: Trump's tariffs are dire for Labour. They're out of their depths. This could snuff them out

The overall impact of Trump's new regime will be negative. His table exaggerated the average tariffs America pays to other countries to make his new levies look reasonable.

Politics

35 h. ago US stocks sink after Trump tariffs announcement as analysts warn of high recession risk

Analysts warning of ‘high risk’ US now enters recession this year after unveiling blanket global tariffs

Events

41 h. ago ANDREW NEIL: US tariffs still risk snuffing out what life there is in the UK economy

The overall impact of Trump's new regime will be negative. His table exaggerated the average tariffs America pays to other countries to make his new levies look reasonable.

Economics

43 h. ago Liberation from what? Trump promised lower prices – his tariffs risk the opposite

Trump pledged to liberate the nation from higher prices, and is betting tariffs won’t raise them too high, for too longFor weeks, Donald Trump and his aides sought to brand Wednesday as “liberation day” in America. Many in the US could be forgiven for wondering what exactly they’ve just been liberated from.After much hype, the president unveiled his plan for a new era in global trade: a blanket 10% tariff on goods imported into the US from Saturday, and higher “reciprocal” tariffs (of up to 49%) on countries taxing US exports from next Wednesday. Continue reading...

Politics

52 h. ago ‘The law is the same for everyone’: Macron addresses Le Pen verdict for first time and criticises threats against judges – Europe live

French president says ‘the judiciary is independent’ following threats made against judges in case against former French far-right leader The French government expects President Trump’s tariffs to be in the range of between 20-25%, said government spokeswoman Sophie Primas on Wednesday.“They risk being pretty powerful. People are speaking of tariffs between 20 and 25 percent,” Primas told reporters. Continue reading...

Events

55 h. ago Starmer appeals for 'calm' hours before Trump's 'Liberation Day' tariffs as he admits UK faces being hit

Keir Starmer said the government is being 'pragmatic' and 'preparing for all eventualities' with our 'feet on the ground' as he took the regular session of PMQs.

Politics

59 h. ago Tens of thousands of British jobs at risk as Trump unveils 'Liberation Day' tariffs TONIGHT: Fears UK will be flooded with cheap Chinese goods and Rachel Reeves forced to hike taxes

Keir Starmer and Rachel Reeves have failed to carve out an exemption from the US president's trade war despite weeks of intense negotiations.

Events

67 h. ago Trump’s tariffs put 25,000 UK automotive jobs at risk, think tank warns

The US president’s policy is set to be confirmed on Wednesday.

Events

3 d. ago Trump’s tariffs in numbers: The biggest losers amid escalating US trade war

As Donald Trump is poised to unleash a fresh slate of tariffs on so-called ‘Liberation Day’ (2 April), data correspondent Alicja Hagopian examines which countries are most at risk from new tariffs on up to $3.3 trillion of goods

Politics

3 d. ago Global cost of Trump trade war ‘could reach $1.4tn’; Goldman Sachs cuts UK growth forecast over tariff spillovers – business live

Rolling coverage of the latest economic and financial news, as UK business secretary warns Britain will be hit by ‘Liberation Day’ tariffsTrump prepares to unveil reciprocal tariffs as markets brace amid trade war fearsTrump’s new tariffs could backfire if they are set too high, explains Mark Haefele, chief investment officer at UBS Global Wealth Management:“Wednesday’s reciprocal tariffs could push the effective tariff rate another 4 percentage points higher. Anything further than that could move tariffs beyond a revenue-raising ‘sweet spot,’ in our view.Globally, the risk of high tariffs disrupting trade and economic activity would potentially offset any US federal revenue gains that the Trump administration seeks to use to further domestic policies.”“It appears tomorrow there’ll be no country in the world exempt from the initial announcements”.I tihnk that our trading relatinship is a very strong, and fair and balanced one, so I don’t think there is the need to do this. Continue ...

Economics

3 d. ago Global cost of Trump trade war ‘could reach $1.4tn’; tariff fears hurt UK factories – business live

Rolling coverage of the latest economic and financial news, as UK business secretary warns Britain will be hit by ‘Liberation Day’ tariffsTrump prepares to unveil reciprocal tariffs as markets brace amid trade war fearsTrump’s new tariffs could backfire if they are set too high, explains Mark Haefele, chief investment officer at UBS Global Wealth Management:“Wednesday’s reciprocal tariffs could push the effective tariff rate another 4 percentage points higher. Anything further than that could move tariffs beyond a revenue-raising ‘sweet spot,’ in our view.Globally, the risk of high tariffs disrupting trade and economic activity would potentially offset any US federal revenue gains that the Trump administration seeks to use to further domestic policies.”“It appears tomorrow there’ll be no country in the world exempt from the initial announcements”.I tihnk that our trading relatinship is a very strong, and fair and balanced one, so I don’t think there is the need to do this. Continue ...

Economics