7 d. ago Trump threatens tariffs on countries that ‘discriminate’ against US tech

President’s move could hit UK’s digital services tax and measures in EU states such as France, Italy and SpainBusiness live – latest updatesDonald Trump has threatened to impose tariffs and export restrictions on countries whose taxes, legislation and regulations target US big tech companies such as Google, Meta, Amazon and Apple.In a post on the US president’s social media platform, Truth Social, Trump said “digital taxes, legislation, rules or regulations are all designed to harm, or discriminate against, American technology”. Continue reading...

Events

2 w. ago Trump hiked tariffs on US imports. Now he’s looking at exports – sparking fears of ‘dangerous precedent’

Experts warn of destabilized trading relations after White House strikes deal with Nvidia to take a 15% cut of certain AI chip sales to Chinese companiesApple CEO Tim Cook visited the White House bearing an unusual gift. “This box was made in California,” Cook reassured his audience in the Oval Office this month, as he took off the lid.Inside was a glass plaque, engraved for its recipient, and a slab for the plaque to sit on. “The base was made in Utah, and is 24-karat gold,” said Cook. Continue reading...

Politics

2 w. ago The Swiss lived in splendid isolation for years. Trump’s tariffs have shattered that complacency | Joseph de Weck

The shockwaves sent by the US president could finally push Switzerland closer to the EUGrowing up in Zurich often felt like being removed from the world. It shouldn’t be that way: after all, Switzerland is at the heart of Europe. Riding on the cosy Zurich trams, one hears all the world’s languages; and the airport offers more direct intercontinental flights than Berlin. And yet, coming of age in Switzerland is like sitting in an aquarium looking at the world through a thick bulletproof window.That glass was shattered last week when Donald Trump announced 39% tariffs on Swiss exports. The US is the most important destination for Swiss products: 18.6% of all its exports go there. If Trump maintains the tariffs, sales to the US “will be effectively annihilated”, said Switzerland’s industry lobbying group. The rightwing Swiss business minister, Guy Parmelin, announced a furlough programme to shield the economy from “mass layoffs”. The tabloid newspaper Blick captured the mood with a sta...

Politics

3 w. ago Why Trump's tariffs could be a disaster for Brazil's acai industry and American consumers

Prices of acai smoothies and bowls look certain to go up in the U.S. as President Donald Trump imposed 50% tariffs on Brazilian exports in July and threatened the delicate balance of supply and demand that holds the industry

Politics

3 w. ago More than 60 countries scramble to respond to Trump’s latest tariffs

Industry representatives warn of job losses and say decision could be ‘nail in the coffin’ for those exporting to the USSee the full list of Trump tariff ratesMore than 60 countries around the world are scrambling to respond to the latest wave of US tariffs announced by Donald Trump which came into force on Thursday.Industry representatives in rich and poor countries warned of job losses as the tariffs upended a decades-old world trading system with rates ranging from 10% to 39%, 40% and 41% for Switzerland, Brazil and Syria. Continue reading...

Politics

3 w. ago Dozens more countries face higher taxes on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ levies were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesDozens of countries face higher taxes on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs have come into force.The sweeping “reciprocal” levies announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

3 w. ago Dozens more countries face higher levies on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ rates were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesBusiness live – latest updatesDozens of countries face higher levies on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs has come into force.The sweeping “reciprocal” rates announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

4 w. ago Swiss president under fire after Trump call leads to US tariffs shock

Karin Keller-Sutter accused of mishandling talks as shares dive after Switzerland hit with 39% tariffEurope live – latest updatesUS live – latest updatesThe Swiss stock market has plunged, the cabinet has been holding emergency talks and President Karin Keller-Sutter has been accused of mishandling a vital phone call with the White House after Donald Trump hit the country with a shock 39% export tariff.Switzerland, home to some of the world’s best-known luxury brands, was left stunned after the US president on Friday imposed one of the highest tariff rates in his global trade reset. Industry associations warned tens of thousands of jobs were at risk. Continue reading...

Politics