99 m. ago US says it struck framework deal with China to restore trade war truce

Commerce secretary Howard Lutnick says he will present plan to Donald Trump

Economics

12 h. ago 2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffsBusiness live – latest updatesThe World Bank has cut its forecasts for growth, blaming Donald Trump’s trade war and says the 2020s are on course to be the weakest decade for the global economy since the 1960s.In its twice-yearly Global Economic Prospects report, the Washington-based lender reduced its forecast for global GDP growth this year to 2.3%, down from 2.7% in January. Continue reading...

Economics

43 h. ago US and China officials to meet for trade talks in London – business live

Rolling coverage of the latest economic and financial newsChina has slipped further into deflation territory, underlining the importance of agreeing a trade deal with the US.China’s consumer prices fell for a fourth consecutive month in May, new data from the National Bureau of Statistics shows.“The next round of trade talks between the U.S. and China will be held in the UK on Monday.“We are a nation that champions free trade and have always been clear that a trade war is in nobody’s interests, so we welcome these talks.” Continue reading...

Politics

45 h. ago Apple heads into annual showcase reeling from AI missteps, tech upheaval and Trump's trade war

After stumbling out of the starting gate in Big Tech’s pivotal race to create artificial intelligence, Apple will try to regain its footing Monday with its annual showcase for the next generation of software powering the iPhone and other popular products

Politics

49 h. ago Trump's bravado has totally backfired. China has the President right where it wants him

London will today be centre of attention, as representatives have flown in for negotiations to defuse the trade war between the world's two mightiest economic powers.

Politics

3 d. ago Private equity firms overhaul exit strategies as IPO market slams shut

Executives prioritising break-ups or continuation funds as trade war kills off potential floats

Economics

4 d. ago US jobs market slows down as businesses cope with Trump trade war uncertainty

May’s jobs report was dragged down by loss of 22,000 federal workers’ jobs as Doge cut positionsThe US economy added 139,000 jobs in May, a slowdown compared with recent months as American businesses cope with uncertainty around Donald Trump’s continuing trade war.After signs of a strong labor market in April – which was largely seen as resiliency against teetering trade policy from the White House – May saw a drop in new jobs added to the labor market, according to new data from the Bureau of Labor Statistics. The unemployment rate remained steady at 4.2%, unchanged from last month. Continue reading...

Politics

5 d. ago The right is breaking ranks over Trump and his tariffs | Sidney Blumenthal

A trade court ruling is exposing the civil war on the right, as key legal establishment figures oppose the presidentDonald Trump’s trade war has become his quagmire: legal, economic and political. On 28 May, the court of international trade ruled his tariffs exceeded his constitutional authority. Point by point, the decision decimated Trump’s arguments as flimsy and false, implicitly castigated the Republican Congress for abdicating its constitutional responsibility, and reminded other courts, not least the supreme court, of the judicial branch’s obligation to exercise its authority regardless of the blustering of the executive and the fecklessness of the legislative branches.Trump’s tariffs, along with his withdrawal of active support for Ukraine and passivity toward his strongman father figure Vladimir Putin, have broken the western alliance, forcing the west to make its own arrangements with China, and cementing the idea for a generation to come that the United States is an untru...

Politics

5 d. ago Trump’s tariffs have become his Vietnam – and the right is breaking ranks | Sidney Blumenthal

A trade court ruling is exposing the civil war on the right, as key legal establishment figures oppose the presidentDonald Trump’s trade war has become his quagmire: legal, economic and political. On 28 May, the court of international trade ruled his tariffs exceeded his constitutional authority. Point by point, the decision decimated Trump’s arguments as flimsy and false, implicitly castigated the Republican Congress for abdicating its constitutional responsibility, and reminded other courts, not least the supreme court, of the judicial branch’s obligation to exercise its authority regardless of the blustering of the executive and the fecklessness of the legislative branches.Trump’s tariffs, along with his withdrawal of active support for Ukraine and passivity toward his strongman father figure Vladimir Putin, have broken the western alliance, forcing the west to make its own arrangements with China, and cementing the idea for a generation to come that the United States is an untru...

Politics

5 d. ago Europe's central bank expected to lower interest rates as Trump's trade war threatens growth

Lower inflation and concern that U.S. President Donald Trump’s trade war will slow already modest growth have cleared the way for the European Central Bank to cut interest rates at Thursday’s policy meeting, a step that would lower borrowing costs for consumers and businesses and promote economic activity

Events

6 d. ago Apple and Alibaba’s AI rollout in China delayed by Trump trade war

Partnership between US and Chinese tech groups stalled by Beijing regulator in wake of geopolitical tensions

Politics

6 d. ago US’s most Canadian town is stuck in the middle of a trade war

Isolated from the rest of the US, Point Roberts businesses say a drop in Canadian tourism is economically devastatingPoint Roberts, Washington, is about as Canadian as a US town can get. Littered with streets named after Canada’s provinces, its gas stations sell by the litre and about half of its 1,000 residents hold dual citizenship. Its sole grocery store, the aptly named International Marketplace, keeps both American and Canadian dollars stocked in its till.That till hasn’t been getting much use in recent months. Ali Hayton, the International Marketplace’s owner, estimates business is down by 30% amid an unprecedented dip in Canadian visitors. “We’re hanging on by a thread,” she said. Continue reading...

Events

7 d. ago Trump is ‘obsessed’ about having a call with China’s Xi this week to hammer out trade deal, insiders reveal

A person familiar with the matter reportedly said the administration is “under a lot of pressure” following China’s critical minerals blockade

Politics

7 d. ago Trump orders 50% steel and aluminium tariffs to begin on June 4

US president escalates trade war by doubling levies on all exporters except the UK

Politics

7 d. ago UK firms taking early action as they brace for hits from tariffs – survey

The latest Barclays business prosperity report found 79% of firms are concerned about the global trade war sparked by US President Donald Trump.

Economics

7 d. ago Bank of England chief warns interest rate cuts now 'more uncertain' as OECD downgrades growth forecasts and says inflation will 'linger'

Andrew Bailey said the prospects for easing the burden on Brits was 'shrouded in a lot more uncertainty', largely due to Donald Trump 's trade war.

Events

7 d. ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

7 d. ago UK will slump to 1% growth next year as Trump tariffs bite, says OECD

US, Mexico and Canada economies likely to be worst affected by ongoing tariff battles, says forecastBusiness live – latest updatesThe UK’s economic growth will be slower than expected this year and next as the damage caused by Donald Trump’s tariff war hits trade and investment, according to a gloomy forecast by the Organisation for Economic Co-operation and Development (OECD).The international body downgraded its expectations for this year and next from a forecast made in March, pushing down UK growth from 1.4% to 1.3% in 2025 and from 1.2% to 1% next year. Constraints on Whitehall spending and higher than expected inflation also played a part in a downgrade, the OECD said. Continue reading...

Politics

8 d. ago Walmart and Target workers are sharing pics of price increases amid Trump’s trade war

‘I just feel terrible putting all these ridiculously high prices up,’ said one worker on Reddit

Events

8 d. ago US firms say Trump trade war is hitting production as dollar nears three

Manufacturing survey signals third monthly decline in output in a row amid uncertainty over tariffsUS manufacturers have warned that Donald Trump’s trade war is hitting production, pushing the dollar close to a three-year low against sterling on Monday.The greenback suffered a fresh sell-off, after the closely watched ISM survey of the manufacturing sector signalled a third monthly decline in output in a row. Continue reading...

Events