4 h. ago Donald Trump ramps up trade war with threats of 30% tariffs on EU and Mexico

Three EU officials told Reuters they believed the tariffs were a negotiation ploy by Trump

Events

12 h. ago Trump announces 30% tariffs on imports from the EU and Mexico

The fresh tariffs were announced in separate letters posted on Truth Social

Politics

3 d. ago Bank of England says UK banks can increase riskier mortgage lending – business live

Rolling coverage of the latest economic and financial news, as BoE recommends banks can issue more high loan-to-income level loansCopper prices in US hit record high after Trump announces 50% tariffTrump threatens to escalate trade war amid confusion over new tariff ratesCarsten Menke, Head of Next Generation Research at Julius Baer, says the copper tariffs will be inflationary domestically in the US and deflationary internationally – which matches the price action we’ve seen since last night.Menke also points out that the jump in US copper prices (13% yesterday) is less than the 50% tariff, implying traders expect some imports will be exempt, saying:President Trump announced the imposition of 50% import tariffs at a cabinet meeting yesterday. While US-traded futures jumped on the news, the price differential is well below the tariff level, pointing to expectations of exemptions for key suppliers or expectations of different demand dynamics.As already mentioned, we remain of the con...

Economics

3 d. ago Threat of Trump tariffs ‘puts businesses at risk of going bust’

Bank of England says further rise in trade taxes could weaken demand, increase costs and make banks less willing to provide loansBusiness live – latest updatesThe looming threat of much higher tariffs amid Donald Trump’s trade war could lead to a fresh wave of companies going bust and cause financial losses for banks, the Bank of England has warned.The Bank’s financial policy committee said a rise in trade levies would compound existing vulnerabilities, with the risks to global growth and inflation having grownas a result of the president’s ever-changing border tax rates and an escalating conflict in the Middle East. Continue reading...

Events

4 d. ago Trump threatens to escalate trade war amid confusion over new tariff rates

US president announces tariffs of up to 200% on foreign drugs and 50% on copper as he continues to shift plansDonald Trump vowed to further escalate his trade wars on Tuesday, threatening US tariffs of up to 200% on foreign drugs and 50% on copper, amid widespread confusion around his shifting plans.Hours after saying his latest deadline for a new wave of steep duties was “not 100% firm”, the US president declared that “no extensions will be granted” beyond 1 August. Continue reading...

Events

8 d. ago Trump threatens 17% tariffs on food and farm produce exports from Europe

EU says it ‘favours a negotiated solution’ but is prepared for potential trade war with retaliatory dutiesDonald Trump threatened to impose 17% tariffs on food and farm produce exports from Europe during talks in Washington this week, it has emerged.Such tariffs would hit everything from Belgian chocolate to Kerrygold butter from Ireland and olive oil from Italy, Spain and France, all big sellers in the US. Continue reading...

Politics

1 week ago Trump goes to WAR against 'sanctuary city' Los Angeles with major lawsuit

Donald Trump is ramping up his war against liberal 'sanctuary city' Los Angeles with a new major lawsuit.

Politics

1 week ago Trump goes to war against 'sanctuary city' Los Angeles with major new action

Donald Trump is ramping up his war against liberal 'sanctuary city' Los Angeles with a new major lawsuit.

Politics

3 w. ago America had open borders until 1924. Racism and corporate greed changed that | Daniel Mendiola

The primary justifications for early immigration laws were xenophobia, eugenics, and overt racism. Understanding the history of immigration is essentialThe US immigration system is a scam that dehumanizes people for profit. Communities across the country have had enough.The protests in Los Angeles have invited a long overdue conversation about the true nature of the US immigration system. While the immediate catalysts for the protests were ramped up Ice raids attempting to meet Donald Trump’s arbitrary deportation quotas, the protests spring from a deeper history. Continue reading...

Events