4 d. ago US economy shrinks in first quarter of Trump 2.0 amid sweeping tariffs

Drop comes amid a huge fall in consumer sentiment which in April dropped 32% to lowest level since 1990 recessionThe US economy shrank in the first three months of Donald Trump’s second term as the president sought to roll out an aggressive trade strategy, claiming that sweeping tariffs on the world would strengthen the US economy.Gross domestic product (GDP), a key measure of overall growth in the US economy, fell by 0.3% in the first quarter of the year, down from 2.4% in the last quarter of 2024. The contraction – the first since the start of 2022 – puts the US on the brink of a technical recession, defined by two quarters of negative growth. Continue reading...

Politics

4 d. ago Trump reveals what he really thinks about Jeff Bezos after declaring WAR on billionaire over Amazon tariffs

Donald Trump said he was able to settle things with Jeff Bezos Tuesday afternoon after Amazon caved and said it would remove a line for the cost of tariffs on the price tag for products.

Politics

4 d. ago Trump hails Bezos for scrapping plan to show Amazon shoppers tariff price hikes on products

Online retail giant claims that policy angry president attacked showing tariff price hikes on products was ‘never approved and is not going to happen’

Economics

4 d. ago Amazon says it won’t display tariff costs after Trump called Bezos over ‘hostile and political’ move

Amazon denied that it would display costs associated with tariffs for products on its website after Trump expressed anger over the policy

Politics

4 d. ago Trump declares war on Jeff Bezos after Amazon's 'hostile and political' tariffs move

After Amazon announced it was going to display the cost of Trump's tariffs alongside its products on its website, Donald Trump dubbed the move 'hostile and political'

Politics

4 d. ago White House calls Amazon ‘hostile’ for reportedly planning to list tariff costs

White House accuses Amazon of ‘hostile and political act’ after report says company will display tariffs costs on siteThe White House accused Amazon of committing a “hostile and political act” after a report said the e-commerce company was planning to inform customers how much Donald Trump’s tariffs would cost them as they shopped.The press secretary, Karoline Leavitt, was responding to a report in Punchbowl News, which, citing a person familiar with the matter, reported that Amazon would begin displaying on its site how much the tariffs had increased the prices of individual products, breaking out the figure from the total listed price. Continue reading...

Economics

4 d. ago White House rips ‘hostile and political’ move by Bezos’ Amazon to display how much costs are for tariffs

Amazon reportedly plans to display rising costs that are associated with tariffs for products on its website

Politics

9 d. ago Apple to move production of US iPhones from China to India over tariffs – report

Experts have already warned the price of electronics generally, and not just Apple products, are likely to rise.

Politics

9 d. ago Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products Business live – latest updatesXi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.Friday’s meeting of the politburo was convened to discuss China’s economic situation, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment, and Donald Trump’s tariffs on all Chinese exports. Continue reading...

Events

1 week ago Treasury secretary says China tariffs not sustainable as US signals willingness to de

Scott Bessent said the tariffs – 145% on Chinese products and a retaliatory 125% on US products – would have to come down before talks can proceedStock markets rise as Trump backtracks on high China tariffs and firing Fed chairNato secretary general Mark Rutte will visit the US and meet the secretary of state, Marco Rubio, the defense secretary, Pete Hegseth, and the national security adviser, Mike Waltz, according to a media notice shared by the military alliance’s press office.Rutte will visit the US on 24 and 25 April. Continue reading...

Politics

1 week ago JD Vance poses in front of the Taj Mahal with wife Usha and their three children after red carpet tour of India is rocked by tourist massacre

Vance has been trying to shore up relations with India after Donald Trump criticised India's tariffs on cars, farm goods and other products.

Society

1 week ago From peppercorns to plastic forks: US businesses that rely on Chinese products reel from Trump tariffs

Price hikes worry restaurants and online markets as uncertainty stymies their ability to plan for the futureChang Chang, a Sichuan restaurant in Washington DC, was already noticing that some of its business had dropped off after tens of thousands of federal workers living in the area lost their jobs. But the recent tariff rate hikes mark an even greater blow for the restaurant.Sichuan peppercorns, which create the signature numbing spice of the regional Chinese cuisine, along with other ingredients, face an at least 145% tariff after last week’s tit-for-tat trade battle between China and the United States. The steep rate is an existential threat for restaurants across the country that rely on specialty ingredients imported from China to craft the authentic flavors of their dishes, said operators who were blindsided. Continue reading...

Politics

2 w. ago Apple airlifted iPhones worth $2bn from India in March as Trump tariffs loomed

Tech giant stepped up production and chartered cargo flights with at least six jets to ensure sufficient inventoryApple’s main Indian suppliers Foxconn and Tata shipped nearly $2bn worth of iPhones to the United States in March, an all-time high, as the US company airlifted devices to bypass Donald Trump’s impending tariffs, customs data shows.The smartphone maker stepped up production in India and chartered cargo flights to ferry 600 tons of iPhones to the United States to ensure sufficient inventory in one of its biggest markets based on concern that the US president’s tariffs would push up costs. At least six cargo jets were used in the operation, which one source described as a way to “beat the tariffs”. Continue reading...

Politics

2 w. ago UK retail bosses raise fears of Chinese product ‘dumping’ due to Donald Trump’s tariffs

Companies flag signs of goods being diverted from US to Europe via platforms such as Temu, Shein and Amazon

Politics

2 w. ago Trump warns exemptions on smartphones, electronics will be short

The US president has said no one is ‘getting off the hook’, as he promises to launch a national security investigation into the semiconductor sectorThe exemption of smartphones, laptops and other electronic products from import tariffs on China will be short-lived, top US officials have said, with Donald Trump warning that no one was “getting off the hook.”“There was no Tariff ‘exception’, Trump said in a social media post on Sunday. “These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff ‘bucket.’” Continue reading...

Events

2 w. ago US stock markets expected to recover after Trump drops tariffs on mobiles

Exemption, seen as a climbdown, includes laptops and chips, and is likely to help firms such as Apple and NvidiaUS stock markets were expected to stage a recovery on Monday after Donald Trump excluded imports of smartphones and laptops from his tariff regime late on Friday night.Shares in Apple and chip maker Nvidia were on course to soar after tariffs on their products imported into the US were lifted for 90 days. Continue reading...

Politics

3 w. ago Government cuts prices of 89 everyday items including spices, juices and pasta

UK Global Tariffs on 89 products have been suspended until 2027 - which could be good news for many including families and certain businesses

Politics

3 w. ago China raises US tariffs to 125% as Xi invites EU to team up against Trump ‘bullying’

Chinese leader canvasses Spain and other trading partners on how to tackle economic fallout as market turmoil continuesBusiness live – latest updatesWhy did ‘strongman’ Trump back down on tariffs? – podcastChina has raised its tariffs on US products to 125% in the latest salvo of the trade dispute with Washington, just hours after Xi Jinping said there were “no winners in a tariff war”.Xi made the comments during a meeting with the Spanish prime minister in which he invited the EU to work with China to resist “bullying”, part of an apparent campaign to shore up other trading partners. Continue reading...

Politics

3 w. ago China to restrict US film releases after Trump’s tariff hike

After the US president imposed 125% duties on Chinese imports, Beijing says it will restrict American films opening in its lucrative market Hours after Donald Trump imposed record 125% tariffs on Chinese products entering the US, China has announced it will further curb the number of US films allowed to screen in the country.“The wrong action of the US government to abuse tariffs on China will inevitably further reduce the domestic audience’s favourability towards American films,” the China Film Administration said in a statement on Thursday. “We will follow the market rules, respect the audience’s choice, and moderately reduce the number of American films imported.” Continue reading...

Politics

3 w. ago China says Trump’s trade war ‘will end in failure’, as Beijing’s tariffs take effect

China’s 84% tariffs on US products come into force amid market relief after Trump pauses steep reciprocal tariffs elsewhereBusiness live – latest updatesChina says Donald Trump’s trade war with Beijing “will end in failure” for Washington, hours after the US president announced he would be increasing his tariffs on the country’s imports to 125%.China’s own 84% tariffs on US imports came into effect on Thursday amid an escalating trade war between the world’s two biggest economies. Continue reading...

Events