4 d. ago Price hike on Shein? How Trump tariffs could shift the US’s love of fast fashion

Trump ended the ‘de-minimis’ rule while launching a trade war with China – which will make retail giants such as Temu more expensive, experts sayAfter a chaotic week of flip-flopping tariff policies, cheap clothes from China are nearly certain to face a steep price hike soon – prompting concern among fast fashion retailers and potentially pushing consumers to look for other alternatives.As part of a package of global tariff policies announced on “liberation day” last week, Donald Trump signed an executive order that ended a duty-free exemption for low-priced goods to enter the US from China and Hong Kong. Known as the “de-minimis” rule, packages under $800 do not qualify for any taxes or tariffs on the goods and are inspected minimally at the border. Continue reading...

Politics

6 d. ago ‘The damage is done’: Why the risk of global recession remains despite Trump’s tariff pause

Even with a 90-day pause on aggressive tariff hikes, leading economists say global damage has already been done thanks to ongoing uncertainty

Events

7 d. ago Donald Trump revels in 'great day' despite backing down on global tariffs for 90 days

Donald Trump was forced to pause his tariffs on most nations at 10% as he faced volatile finanical markets who had been pushing the US president to reconsider his trade war

Politics

7 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

9 d. ago How ‘liberation day’ rout compares with other notorious stock market crises

A swift loss of £4tn from global stock markets has led some to liken Trump’s trade war to 1929 Wall Street crashBusiness live – latest updatesDonald Trump’s escalating trade war has plunged global financial markets into the steepest rout since the spread of the Covid pandemic five years ago.Drawing parallels with the 1929 Wall Street crash and the ensuing 1930s Great Depression, the US president’s “liberation day” tariff plan has led to warnings of a global recession from leading economists. Continue reading...

Politics

1 week ago FTSE 100 Live 07 April: Stock market rout deepens, index down 5% and S&P 500 set for bear market

The global stock market rout triggered by Donald Trump’s “Liberation Day” tariffs worsened today.

Politics

1 week ago FTSE 100 Live 07 April: Index slides 6% as stock market rout continues, S&P 500 seen in bear market

The global stock market rout triggered by Donald Trump’s “Liberation Day” tariffs worsened today.

Politics

1 week ago Donald Trump's outrageous move on DAY OFF as his wild tariffs crashed global economy

Donald Trump slapped massive tariffs across dozens of nations that he said - contrary to most economists' opinions - would boost the American economy and bring manufacturing back to the US

Events

1 week ago Wall Street selloff caps brutal week for markets as Trump tariffs rattle investors

Slumps on S&P 500, Dow and Nasdaq cap dismal day for global indices but US president doubles down on tariff planWall Street suffered its worst week since the onset of the Covid-19 crisis five years ago as investors worldwide balked at Donald Trump’s risky bid to overhaul the global economy with sweeping US tariffs.The US president doubled down on his plan on Friday, insisting he would not back down even as the chairman of the Federal Reserve warned it would likely raise prices and slow down economic growth. Continue reading...

Economics

1 week ago ‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s tariffs

Impoverished African country is hit with highest tariff rate at 50%, overturning decades of global trade policyThe day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs.Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing, as well as diamonds, under a continent-wide trade agreement meant to help African countries’ development via tariff-free exports. Continue reading...

Politics

1 week ago ‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s 50% tariffs

Impoverished African country is hit with highest tariff rate, overturning decades of global trade policyThe day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs.Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing under a continent-wide trade agreement meant to help African countries’ development via tariff-free exports, as well as diamonds. Continue reading...

Politics

1 week ago Trump tariffs live: Asian markets open in red for second day over global trade war

Trump’s tariffs caused global markets to freefall

Politics

2 w. ago FTSE 100 Live 03 April: Stocks and dollar weaken on tariffs shock, Currys shares bounce

Stock markets have tumbled as shocked investors react to the “Liberation Day” tariffs unveiled by President Trump at the White House last night.

Events

2 w. ago Donald Trump sparks global trade war as UK caught in 'Liberation Day' tariff blitz

US President Donald Trump set out plans for vengeance against nations he claimed had 'ripped off' US taxpayers, saying: 'Our country has been looted, pillaged, raped, plundered'

Events

2 w. ago Donald Trump declares global trade war as UK caught in 'Liberation Day' tariff blitz

US President Donald Trump set out plans for vengeance against nations he claimed had 'ripped off' US taxpayers, saying: 'Our country has been looted, pillaged, raped, plundered'

Events

2 w. ago Donald Trump's new global tariffs as he says 'Liberation Day' will 'make US wealthy again'

The President stood in front of the White House as he made the announcment.

Economics

2 w. ago Donald Trump unveils global tariffs as he says 'Liberation Day' will 'make America wealthy again'

The UK is among the many nations expected to be hit with tariffs when exporting to the US after Donald Trump unveiled his 'Liberation Day' border taxes in the White House

Economics

2 w. ago Stock market today: Asian shares mostly decline ahead of Trump's latest tariffs

Asian shares are mostly falling, shaken by jitters over what President Donald Trump will announce about tariffs on his “Liberation Day” later in the global day

Politics

2 w. ago Trump insists he’s ‘not joking’ about a third term and hints at ‘methods’ despite constitutional limits: Live updates

President also says that reciprocal ‘Liberation Day’ tariffs will impact ‘all countries’ as global stocks slide

Politics

2 w. ago Trump says serving in 2028 would be ‘a fourth term’ after touting ‘methods’ to remain in White House: Live

President also says that reciprocal ‘Liberation Day’ tariffs will impact ‘all countries’ as global stocks slide

Politics