15 h. ago China's exports jump 12.4% and imports fell as Trump pushed US tariffs higher

China has reported its exports jumped 12.4% in March from a year earlier as companies rushed to beat increases in U.S. tariffs imposed by U.S. President Donald Trump

Politics

28 h. ago UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports

Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade warThe UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years. Continue reading...

Politics

62 h. ago The ‘new world order’ of the past 35 years is being demolished before our eyes. This is how we must proceed | Gordon Brown

We have seen the conflict and tragedy that can follow when an old era collapses. Countries that believe in multilateralism must come together nowThis is the second in a two-part series on the global response to Donald Trump’s tariffs Read part one: Trump is pushing the world towards recession. By learning the lessons of 2008, we can still prevent itAfter a week that started with the worst financial volatility in recent history and ended with the most serious escalation so far of the China-US conflict, it is time to distinguish the tectonic shifts from the tremors. If nothing changes, the 2020s risks being remembered as this century’s devil’s decade – the term historians once used for the 1930s. It will be defined not just by seven million people who have died of Covid-19 and rising global poverty and inequality – but also by a dismembered Ukraine, a burnt-out Gaza and little-reported atrocities in Africa and Asia, each testimony to the violent displacement of a rules-based global or...

Politics

3 d. ago Reeves looks to nurture ‘green shoots’ of UK economic growth

Chancellor welcomes striking official data as allies set out ‘four-pronged response’ to Trump tariffs

Economics

3 d. ago Trump administration ordered to help return man wrongly deported to El Salvador – US politics live

Supreme court upholds earlier order that Kilmar Abrego Garcia should be released after being improperly sent to prisonChinese foreign minister Wang Yi said on Friday that “the US cannot act recklessly, and the wheel of history cannot go backwards,” referring to US tariffs on China.Reuters reports that Wang made the remarks in a meeting with the International Atomic Energy Agency’s director general Rafael Mariano Grossi in Beijing. Continue reading...

Politics

3 d. ago Emmanuel Macron urges Europe to 'mobilise' and says 'we are right to fight' in response to Trump's 'unfair tariffs'

Macron warned that Europe would still need to 'mobilise' its leverage to protect itself, warning of the 'fragility' of Trump's 90-day 'pause' on harsh tariffs

Politics

3 d. ago Trump live updates: US stocks plunge day after historic surge in response to president’s 90

S&P 500 down five percent in midday trading, cutting into 9.5 percent surge that came on Wednesday after president paused many of his global tariffs

Politics

3 d. ago Pronouns in some reporters' email signatures get a stony response from Trump administration

You know those email signatures at the end of messages

Politics

4 d. ago Prada buys Versace in €1.25bn deal uniting Italy’s biggest fashion brands

Prada has secured Versace at a €180m discount amid market turmoil and after months of speculationPrada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump’s tariff policies. Continue reading...

Economics

4 d. ago Prada’s €1.25bn Versace takeover: a new era for Italian luxury

Prada has secured Versace at a €200m discount amid market turmoil, uniting two Italian fashion powerhousesPrada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump’s tariff policies. Continue reading...

Politics

4 d. ago Trump live updates: US stocks plunge day after historic soar in response to president’s 90

S&P 500 down five percent in midday trading, cutting into 9.5 percent surge that came on Wednesday after president paused many of his global tariffs

Politics

4 d. ago Former US treasury secretary slams Trump tariffs as ‘worst self

Janet Yellen, who also is a former Federal Reserve chair, says Trump’s economic policies increase likelihood of recessionRead the latest full reportUS-China trade war intensifies as Beijing’s tariffs come into effect after Trump pauseChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Politics

4 d. ago Wall Street opens lower despite hopes that ‘well advanced’ trade talks will yield deals

Ursula von der Leyen says EU “want to give negotiations a chance”, by pausing countermeasures for 90 daysRead the latest full reportUS-China trade war intensifies as Beijing’s tariffs come into effect after Trump pauseChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Economics

4 d. ago Wall Street to fall back despite hopes that ‘well advanced’ trade talks will yield deals

Ursula von der Leyen says EU “want to give negotiations a chance”, by pausing countermeasures for 90 daysRead the latest full reportUS-China trade war intensifies as Beijing’s tariffs come into effect after Trump pauseChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Economics

4 d. ago Euro strengthens as EU delays retaliatory tariffs against US by 90 days in response to Trump’s pause – business live

Ursula von der Leyen says EU “want to give negotiations a chance”, by pausing countermeasures for 90 daysRead the latest full reportUS-China trade war intensifies as Beijing’s tariffs come into effect after Trump pauseChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Economics

4 d. ago Trump is pushing the world into recession. By learning the lessons of 2008, we can still prevent it | Gordon Brown

As I discovered then, global problems need international responses. By working together, we can protect jobs and living standardsThis is the first in a two part series on the global response to Donald Trump’s tariffsNo more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession. As China and the US decouple, disruptive trade wars are intensifying and threaten to descend into currency wars; import, export, investment and technology bans; and financial fire sales that will destroy millions of jobs worldwide. It seems barely credible that the world is being brought to its knees by one economy, outside of which live 96% of the population, who produce 84% of the world’s manufactured goods. But even though US officials have previously talked of a tariff policy of “escalate to de-escalate”, Donald Trump’s aim is to force manufacturing back to the US, and his 90-day relaxation of some tariffs does not mean he intends to defuse the crisis.On Monday, ...

Politics

4 d. ago Trump is pushing the world towards recession. By learning the lessons of 2008, we can still prevent it | Gordon Brown

As I discovered then, global problems need international responses. By working together, we can protect jobs and living standardsThis is the first in a two part series on the global response to Donald Trump’s tariffsNo more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession. As China and the US decouple, disruptive trade wars are intensifying and threaten to descend into currency wars; import, export, investment and technology bans; and financial fire sales that will destroy millions of jobs worldwide. It seems barely credible that the world is being brought to its knees by one economy, outside of which live 96% of the population, who produce 84% of the world’s manufactured goods. But even though US officials have previously talked of a tariff policy of “escalate to de-escalate”, Donald Trump’s aim is to force manufacturing back to the US, and his 90-day relaxation of some tariffs does not mean he intends to defuse the crisis.On Monday, ...

Politics

4 d. ago China’s new tariffs on US goods to come into effect as Trump pauses measures for other countries – business live

China’s 84% retaliatory tariffs on US goods, announced on Wednesday, are due to come into effect on ThursdayRead the latest full reportIn a stunning U-turn, Trump has reversed high tariffs on most nations – at least for 90 days. But the focus is now on China, the second-biggest provider of US imports, of which the pause does not apply.Instead, Trump has raised tariffs on China to 125%, while China has announced new tariffs of 84% on all US imports, further escalating a high-stakes confrontation between the world’s two largest economies.For President Xi, there is only one politically viable response to Trump’s latest threat: Bring it on! Having already surprised domestic audiences with a forceful 34% reciprocal tariff, any appearance of backing down would be politically untenable,” says Diana Choyleva, founder and chief economist at Enodo Economics, a forecasting firm.”Global markets surged after Trump announced his 90-day tariff pause. The S&P 500 surged 5.6%, while the Nasdaq h...

Politics

4 d. ago Fox Business reporter says it’s the ‘White House who capitulated’ on tariffs: ‘Let’s be clear’

‘I want to tell you right now that Donald Trump outsmarted the world,’ Charles Gasparino said. ‘But that's not really what happened here’

Economics

5 d. ago US senator introduces conflict of interest bill aimed at Elon Musk

Exclusive: Democrat Jeanne Shaheen of New Hampshire seeks to set limits on special government employees in response to Musk’s White House roleA Democratic senator has introduced a bill that would prohibit awarding government contracts and grants to companies owned by special government employees, taking aim at Elon Musk, the SpaceX and Tesla CEO.The bill, authored by Jeanne Shaheen, the longtime Democratic New Hampshire senator, is an attempt to prevent conflicts of interest and was crafted in response to Musk’s role in the White House, where Donald Trump has designated him a special government employee, according to a Senate aide. Special government employees, which also include many members of Musk’s so-called “department of government efficiency” (Doge), serve a limit of 130 days and are exempt from some financial disclosure rules. Continue reading...

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