12 h. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

14 h. ago Stock markets plunge after Trump reignites trade war risk with threat of 50% tax on EU goods

US president’s fresh plan wipes billions off shares in UK, US, France, Germany Spain and Italy

Events

16 h. ago Markets tank as Trump moves to impose crippling 50% tariff on Europe

Donald Trump is threatening new crippling tariffs on the European Union after trade negotiations have gone south.

Politics

17 h. ago Trump launches crippling tariffs on 'very difficult' Europe in new trade war escalation

Donald Trump is threatening new crippling tariffs on the European Union after trade negotiations have gone south.

Politics

18 h. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics

33 h. ago G7 ministers threaten more sanctions against Russia over Ukraine war

Summit makes little progress on how to respond to Donald Trump’s trade war

Politics

4 d. ago Eurozone growth forecasts cut amid uncertainty over Trump trade war

Tariffs impact demands ‘considerable downgrade’, to 0.9% this year and 1.4% in 2026, says European CommissionBusiness live – latest updatesThe European Commission has cut its growth forecasts for the eurozone this year and next as a result of uncertainty caused by Donald Trump’s tariff wars.The commission said the impact of tariffs demanded a “considerable downgrade” to the expected growth this year of the 20-member eurozone to 0.9% from the previous forecast, made in November, of 1.3%. Continue reading...

Politics

4 d. ago Stock markets drop and bond yields rise after US credit rating downgrade; EC cuts eurozone growth forecast – business live

Rolling coverage of the latest economic and financial newsUS credit rating downgrade could add to pressure on government debtEconomic risks are weighing on the US dollar today, reports Susannah Streeter, head of money and markets at Hargreaves Lansdown:‘’Like a long weekend hangover, a headache of worry is seeping into sentiment today. The FTSE 100 has opened lower, as investors mull over the downgrading of the US sovereign credit rating on Friday.Moody’s stripped the US of its triple-A rating, citing the growing US fiscal deficit, and the higher borrowing costs the administration will be forced to pay. Given the pledge by Trump to cut taxes, it’s feared the situation could deteriorate further. More of a sombre mood is expected on Wall Street when trading opens later, with futures indicating falls of around 1% for the S&P 500 and 1.3% for the Nasdaq. Continue reading...

Economics

4 d. ago China's economy slows in April as trade war blues hit retail sales, housing and investment

Key economic indicators show China's economy slowing somewhat in April, with retail sales, property and investment coming in weaker than economists had forecast

Economics

5 d. ago This pause in the trade war will be brief. Small businesses, plan accordingly

Trump’s animosity towards China isn’t going to disappear, and his past actions do not bode well for a quick resolutionDonald Trump’s massive Chinese tariffs are on pause. The media debated. Wall Street rejoiced. Many of my clients breathed a sigh of relief. Big retailers jumped for joy. But for how long?For starters, the tariffs that weren’t paused – a 10% levy on all Chinese goods, plus a bonus 20% tax that somehow relates to fentanyl, are still in place. When you take into consideration existing tariffs on steel from previous Trump and Biden administrations, the effective tariff rate on Chinese goods is actually closer to 40%, according to an analysis done by the Wall Street Journal. Continue reading...

Events

6 d. ago Trump orders Walmart to ‘eat the tariffs’ and stop blaming his trade war for rising prices: ‘I’ll be watching’

President lashes out at world’s largest retailer despite claiming his tariffs are tax on foreign countries not U.S. consumers

Politics

7 d. ago US consumer sentiment slides to lowest in 3 years as trade war raises anxiety about inflation

U.S. consumer sentiment fell slightly in May for the fifth straight month as Americans increasingly worry that President Donald Trump’s trade war will worsen inflation

Economics

8 d. ago US recession can’t be ruled out, Jamie Dimon warns, as UK tops G7 growth table – business live

UK economy posts its fastest quarterly growth in a year, outpacing rivals, in growth spurt ahead of trade war disruptionUK economy defies gloomy warnings to grow 0.7% in first quarter of yearChancellor Rachel Reeves has hailed today’s growth figures, pointing out that the UK expanded faster than other major economies in January-March.But Reeves is also cautioning that there is ‘more to do’:“Today’s growth figures show the strength and potential of the UK economy.“In the first three months of the year, the UK economy has grown faster than the US, Canada, France, Italy and Germany.UK: +0.7% growthCanada: estimated to have grown by 0.4%Italy: 0.3% growthGermany: 0.2% growthFrance: 0.1% growthUS: -0.075% (or -0.3% on an annualised basis)Japan: reporting tomorrow, -0.1% forecast Continue reading...

Events

8 d. ago Trump’s trade war risks US capital flight, warns hedge fund Elliott

Tariff policies could cause ‘enormous’ damage, $73bn firm says in letter to investors

Events

9 d. ago Britain’s biggest pawnbroker H&T snapped up by US firm for £297m; Goldman Sachs lifts UK and eurozone growth forecasts – business live

China issues warning to UK over terms of US trade deal, saying it is a ‘basic principle’ that bilateral agreements should not target other nationsHere’s our full story on the Co-op saying that that stock availability in its stores will not improve until this weekend, as it struggles to recover from a cyber-attack two weeks ago.And our full take on Burberry’s planned 1,700 job cuts. Continue reading...

Economics

1 week ago Nissan to axe 15% of global workforce and almost halve number of plants

Donald Trump’s trade war adds to challenges facing Japanese carmaker

Economics

1 week ago Asian shares gain after Wall Street's rally, but hopes are tempered by trade war uncertainties

Asian shares have advanced after China and the United States announced a 90-day truce in their trade war

Events

1 week ago Trump says tariffs on China imports won’t return to 145% and that he sees a deal – live

Trump warns US could raise tariffs after 90-day pause on trade war with China but expresses confidence a deal will be madeChina and US agree 90-day pause to trade warQatar has offered to donate a plane to the United States and details are still being worked out, White House spokeswoman Karoline Leavitt said on Monday.“The Qatari Government has graciously offered to donate a plane to the Department of Defense. The legal details of that are still being worked out,” Leavitt said in an interview with Fox News. Continue reading...

Economics

1 week ago US and China agree deal to slash tariffs for 90 days in bid to end massive trade war

US Treasury Secretary Scott Bessent says reciprocal tariffs will come down over 100 percentage points to 10%

Economics

1 week ago Trade war breakthrough as US and China agree to slash tariffs by 115% for 90 days

Speaking in Geneva, US Treasury Secretary Scott Bessent said both countries would slash their reciprocal tariffs by 115 per cent for 90 days.

Events