19 h. ago US and China begin collecting port fees on each other’s vessels amid trade war

A return to an all-out trade war appeared imminent last week, after China announced a major expansion of its rare earths export controls

Events

24 h. ago Trump says list of ‘Democrat programs’ to be released on Friday as shutdown drags into third week – live

President says programs to be cut are ‘never going to come back’ as Congress remains at an impasse on stopgap funding bill to reopen governmentJohnson says ‘I don’t have anything to negotiate’ as US shutdown drags onChina has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world’s two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides.China’s commerce ministry said on Tuesday that the US was “threatening to intimidate” with the prospect of new tariffs on Chinese exports, “which is not the right way to get along with China”. Its spokesperson said that China would “fight to the end” in trade talks. Continue reading...

Politics

27 h. ago House speaker defends White House using research funding to pay military during government shutdown – live

Mike Johnson says Trump administration has ‘every right’ to move around ‘duly appropriated dollars from Congress to Department of Defense’China has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world’s two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides.China’s commerce ministry said on Tuesday that the US was “threatening to intimidate” with the prospect of new tariffs on Chinese exports, “which is not the right way to get along with China”. Its spokesperson said that China would “fight to the end” in trade talks. Continue reading...

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29 h. ago House speaker defends administration’s move to keep military paid during government shutdown – US politics live

Mike Johnson says Trump administration has ‘every right’ to move around ‘duly appropriated dollars from Congress to Department of Defense’China has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world’s two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides.China’s commerce ministry said on Tuesday that the US was “threatening to intimidate” with the prospect of new tariffs on Chinese exports, “which is not the right way to get along with China”. Its spokesperson said that China would “fight to the end” in trade talks. Continue reading...

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31 h. ago House speaker says shutdown ‘barreling towards one of longest on record’ as it enters day 14 – US politics live

Mike Johnson speaks on federal government shutdown as it enters 14th day with little end in sightChina has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world’s two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides.China’s commerce ministry said on Tuesday that the US was “threatening to intimidate” with the prospect of new tariffs on Chinese exports, “which is not the right way to get along with China”. Its spokesperson said that China would “fight to the end” in trade talks. Continue reading...

Events

35 h. ago US treasury secretary accuses Beijing of trying to damage global economy; silver hits record high – business live

Rolling coverage of the latest economic and financial newsWhy has US-China trade war restarted and how have markets reacted?A flurry of takeover talk speculation has pushed up shares in budget airline EasyJet this morning.EasyJet’s shares are up over 7%, leading the risers on the FTSE 100 share index.“[The group] does not believe the redress methodology proposed by the FCA appropriately reflects actual customer loss or achieves a proportionate outcome.“...the FCA’s proposed approach to assessing unfairness does not align with the legal clarity provided by the supreme court judgement in respect of the “Johnson” case, which confirmed that the test for unfairness is highly fact specific and must take into account a broad range of factors. The group will continue to engage with the FCA in respect of these points.“Many motor finance lenders did not comply with the law or the rules. It’s time their customers get fair compensation. Recent court judgments show that liabilities exist no matt...

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47 h. ago Gold races to record $4,100 as Trump's softer tone towards China eases trade war fears

Bullion raced to $4103 an ounce - taking gains for the year to a 57% - as nervous investors continue to look for somewhere safe to park their cash.

Politics

65 h. ago China exports accelerate as Xi and Trump raise stakes in trade war

Latest figures likely to give Beijing confidence as it steps up negotiations with Washington

Politics

2 d. ago China warns of retaliation after Trump slapped country with extra tariffs – but US leader insists ‘it will be fine’

CHINA has warned it will retaliate with its own "countermeasures" after Donald Trump hit the country with extra 100 per cent tariffs - in the latest escalation of the tit-for-tat trade war. The US president played down simmering tensions between the two nations - vowing everything "will be fine" in the face of Beijing's latest...

Events

4 d. ago Trump talks tough with China but holds out hope of truce in trade war

US hardliners want a tough stance but the US president is taking a more nuanced approach to Beijing

Politics

4 d. ago Markets tumble as Trump escalates trade war with 100% tariff on China ‘over and above’ current rates

Stocks had been dropping all day after Trump announced a ‘massive increase of Tariffs on Chinese products,’ to counter the country’s new export controls on rare earth minerals

Politics

4 d. ago Trump threatens 100% China tariffs as Beijing restricts rare

President accuses China of ‘very hostile’ moves and says additional tariffs could come on 1 November ‘or sooner’Donald Trump has threatened to impose additional US tariffs of 100% on China from next month, accusing Beijing of “very hostile” moves to restrict exports of rare earths needed for American industry.Wall Street fell sharply after the US president reignited public tensions with the Chinese government, and raised the prospect of another acrimonious trade war between the world’s two largest economies. Continue reading...

Politics

4 d. ago Trump reignites trade war with threat of additional 100% tariff on China

President says measures will include export controls on software and take effect from November 1 ‘or sooner’

Events

6 d. ago China tightens grip on rare earths export amid US trade tensions

Sweeping restrictions mark first expansion of Beijing’s jurisdiction over its materials used abroad

Events

7 d. ago IMF chief warns ‘uncertainty is the new normal’ in global economy

Kristalina Georgieva outlines mounting risks to economic stability before fund’s annual meetings next weekBank of England warns of growing risk that AI bubble could burstGold price tops $4,000 for first time as investors seek safe havenThe head of the International Monetary Fund has issued a stark warning about the mounting risks facing the global economy, saying: “Buckle up: uncertainty is the new normal.”As finance ministers and central bankers prepare to meet in Washington for the IMF’s annual meetings next week, its managing director, Kristalina Georgieva said the world economy had shown surprising resilience in the face of Donald Trump’s trade war. Continue reading...

Events

8 d. ago Trump says there is ‘natural conflict’ with Canada during Carney visit

US president offers few concessions on tariffs after durable alliance fractured by trade war and annexation threatsDonald Trump said there is “mutual love” but “natural conflict” between the US and Canada as he hailed progress towards a trade deal but offered few concrete concessions on steep US tariffs during a visit by the Canadian prime minister, Mark Carney.Carney’s second visit to the US comes as one of the world’s most durable and amicable alliances has been fractured by Trump’s trade war and annexation threats. Among the topics up for discussion are trade and the United States-Mexico-Canada Agreement (USMCA), which is critical to Canada’s economy and is up for review next year. Continue reading...

Politics

3 w. ago If Europe keeps placating its own far right, how can it possibly stand up to Trump? | Thu Nguyen and Jannik Jansen

European leaders have been pulled to the right on migration, the climate crisis and Israel. Their weakness is undermining the democratic principles on which the EU was builtWhen Ursula von der Leyen made her pitch to become president of the European Commission back in 2019, she put the “European way” at the heart of her appeal. Under her direction, she said, Europe would be a principled power built on multilateralism, fair trade and the rules-based order, standing firm and united against authoritarianism, protectionism and the politics of zero-sum thinking.Six years on, she is again calling on Europe to “fight” for that future. But the vision is fading fast. This summer brought a cascade of negative headlines decrying Europe’s “humiliation”; it was the worst in years, if not in a century, some critics said. All pointed to the same reality: European leaders, fearing both a trade war and the loss of US support for Ukraine, had bowed to the wishlist of the Trump administration and left...

Politics

3 w. ago EU says India’s ties to Russia major stumbling block in free trade agreement talks

Brussels says New Delhi’s purchase of Russian oil and participation in Russian military exercises ‘stand in the way of closer ties’

Politics

4 w. ago Trump’s tariffs have hurt tea exports to the US, says Fortnum & Mason boss

Tom Athron says stricter rules on country of origin and end of ‘de minimis’ exemptions are up and sales downThe boss of upmarket retailer Fortnum & Mason has said Donald Trump’s trade war has hit sales of its luxury tea exports to the US and forced up prices.Tom Athron, the London-based retailer’s chief executive, said Trump’s stricter country of origin rules and the end of the “de minimis” cost exemption for parcels worth less than $800 (£587) had hit customers across the Atlantic. Continue reading...

Politics

4 w. ago Fortnum & Mason tea sales suffer as Trump’s trade war hits ‘King’s grocer’

Tougher stance on country of origin rules and scrapping of de minimis exemption drives up price in the US

Events