2 d. ago The Guardian view on the IMF’s warning: Donald Trump could cost the world a trillion dollars | Editorial

The US president’s economic agenda collides with fragile financial systems, triggering market fears, investor flight and developing nation chaosWake up! When the most sober of global institutions, the International Monetary Fund, abandons its usual technocratic calm to sound the alarm on the political roots of global financial instability, it’s time to pay attention. The IMF is warning of a non-negligible risk of a $1tn hit to global output, as Donald Trump’s erratic “America first” agenda – part oligarchic enrichment scheme, part mobster shakedown – collides with a perfect storm of global financial vulnerabilities.Such a shock would be equivalent to a third of that experienced in the 2008 crisis. But it would be felt in a much more fragile and politically charged environment. This time, the crisis stems not just from markets but from the politics at the heart of the dollar system. The IMF’s latest Global Financial Stability Report sees the danger in Mr Trump’s trade ...

Events

3 d. ago Risks to global financial stability surging after Trump tariffs, warns IMF

World body says ‘sharp repricing of risks’ possible amid growing concern over role of ‘nonbank’ lendersIMF warns of ‘major negative shock’ from Trump’s tariffsEditorial: Donald Trump could cost the world $1tnThe global financial system is coming under increasing strain as Donald Trump’s trade war rocks markets, the International Monetary Fund has warned.“Global financial stability risks have increased significantly,” the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. Continue reading...

Events

5 d. ago Martin Lewis explains Donald Trump tariff effects on UK energy bills

The US President has caused global markets to experience a rollercoaster few days, including historic falls followed by record rises

Politics

8 d. ago Trump claims the cost of gas and groceries has gone down. Have they?

The price of some everyday goods, such as gasoline and bread, have become more affordable

Politics

1 week ago Trump aides and El Salvador president say wrongly deported man won’t return to US: ‘No version of this ends with him living here’ – live

Nayib Bukele says he won’t return Kilmar Abrego Garcia while Stephen Miller says he would be deported again if he did come back to the USDonald Trump will meet this morning with El Salvador’s president, Nayib Bukele, at 11am ET at the White House.Referring to the cost of imprisoning the detainees in El Salvador, Trump told reporters on Sunday about Bukele:I think he’s doing a fantastic job, and he’s taking care of a lot of problems that we have that we really wouldn’t be able to take care of from a cost standpoint.He’s been amazing. We have some very bad people in that prison. People that should have never have been allowed into our country. People that murdered, drug dealers, some of the worst people on earth are in that prison. And he’s able to do that. Continue reading...

Politics

1 week ago Trump and El Salvador’s president speak at White House amid backlash over deportations – US politics live

Nayib Bukele visits US amid questions over return of man wrongly deported to El Salvador; US deported 10 more people to the country at the weekendDonald Trump will meet this morning with El Salvador’s president, Nayib Bukele, at 11am ET at the White House.Referring to the cost of imprisoning the detainees in El Salvador, Trump told reporters on Sunday about Bukele:I think he’s doing a fantastic job, and he’s taking care of a lot of problems that we have that we really wouldn’t be able to take care of from a cost standpoint.He’s been amazing. We have some very bad people in that prison. People that should have never have been allowed into our country. People that murdered, drug dealers, some of the worst people on earth are in that prison. And he’s able to do that. Continue reading...

Politics

1 week ago Trump to meet El Salvador’s president at White House amid backlash over deportations – US politics live

Nayib Bukele visits US amid questions over return of man wrongly deported to El Salvador; US deported 10 more people to the country at the weekendDonald Trump will meet this morning with El Salvador’s president, Nayib Bukele, at 11am ET at the White House.Referring to the cost of imprisoning the detainees in El Salvador, Trump told reporters on Sunday about Bukele:I think he’s doing a fantastic job, and he’s taking care of a lot of problems that we have that we really wouldn’t be able to take care of from a cost standpoint.He’s been amazing. We have some very bad people in that prison. People that should have never have been allowed into our country. People that murdered, drug dealers, some of the worst people on earth are in that prison. And he’s able to do that. Continue reading...

Politics

1 week ago Trump’s auto tariffs expected to cost industry over $100 billion, with millions fewer cars sold

Vehicle sales are predicted to plummet from auto tariffs and tightened spending by Americans due to import taxes on other goods

Economics

1 week ago Donald Trump exempts iPhones and laptops from new tariffs in huge U

US consumers feared price of handsets could triple if passed on to them

Politics

2 w. ago What’s the true cost of Donald Trump? All the crises around the world that we’ve no time to fix | Jonathan Freedland

The US president adores the attention, but while leaders struggle to mitigate the damage he causes, other emergencies are getting worseWe’re all having to master a vocabulary that was once the preserve of specialists. Now everyone needs to know their tariffs from their treasuries, their levies from their yields. But there’s one more term from the realm of economics that urgently needs to enter our lexicon. Given what Donald Trump is doing to the world economy – and the world – we need to talk about opportunity cost.Put simply, opportunity cost is the value of opportunity lost. It’s the benefit you could have had if you had chosen a different path. For an economist, the opportunity cost of the Mars bar you bought is the Twix you didn’t.Jonathan Freedland is a Guardian columnist Continue reading...

Politics

2 w. ago US consumers warned of higher prices from tariffs within weeks

Analysts estimate Donald Trump’s levies could cost the average household $4,700 a year

Events

2 w. ago Asian markets sink as Trump admits ‘transition cost’ of tariffs – business live

Nikkei plunges 5.4% and other Asian markets reverse many of Thursday’s gains after historic rally following US president’s tariffs reprieveUS stocks fall again after rally following Trump’s shock retreat on tariffsThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

2 w. ago Trump admits ‘transition cost’ of tariffs as global markets sink again – business live

US stocks tumble once more after historic rally following US president’s shock retreat on ‘reciprocal’ tariffsUS stocks fall again after rally following Trump’s shock retreat on tariffsIn the UK, shoppers stayed away from the high street in March, a situation retailers said could worsen if the economic gloom caused by Donald Trump’s tariff war hits consumer confidence.Footfall fell 5% in March to extend a downturn in February that retailers said could be attributed to a recent rise in inflation and pressure on pay packets since a brief revival during the January sales.Global uncertainties resulting from tariffs and a potential economic slowdown could reduce the appetite for shopping trips in the coming months. Continue reading...

Economics

2 w. ago How Trump just made EVERYONE'S iPhone more expensive. The truth about how much more it could cost. And can the most complex supply chain in history really be relocated to America?

It is near-ubiquitous on Britain's high streets. But experts say Donald Trump's new trade tariffs on China - which is the world's greatest producer of the iPhone - could send its cost soaring.

Politics

2 w. ago Why Trump just made EVERYONE's iPhone more expensive. The truth about how much more it could cost. And can the most complex supply chain in history really be relocated to America?

It is near-ubiquitous on Britain's high streets. But experts say Donald Trump's new trade tariffs on China - which is the world's greatest producer of the iPhone - could send its cost soaring.

Politics

2 w. ago Reeves faces crisis as Trump’s tariffs send cost of government borrowing soaring in blow to her Budget plans

The trade war escalated with China hitting back by imposing 84% levies on imports from the US

Politics

2 w. ago How the price of petrol could be an unexpected benefit of Trump’s tariffs

Fuel prices are set to drop as Trump’s tariffs are felt worldwide

Politics

2 w. ago Albanese vs Dutton: Who won the first Australian election debate?

The two rivals traded bards over cost of living issues, inflation, Trump tariffs and energy prices

Politics

2 w. ago Chinese plan to BAN Hollywood movies as they respond to Trump tariff 'blackmail': Huge blow could cost films such as Jurassic World: Rebirth and new Mission Impossible sequel half a BILLION dollars

It will put more tariffs on US agricultural products, prevent all US poultry from entering China and ban the import of US movies into the country, a Chinese journalist linked to the Communist party said.

Economics

2 w. ago Richard Madeley defends Donald Trump's controversial tariff decision after 'warning'

Richard Madeley shared his thoughts after economists warned that Trump's tariffs could have a dramatic impact on the cost of living, both in the USA and abroad

Events