2 d. ago Will Trump’s tariffs tip the world into recession? – podcast

As countries reel from the Trump tariffs, can a global recession still be avoided? Richard Partington reportsJust after midnight on Tuesday, EDT time, the wall of tariffs Donald Trump announced last week came into effect. The new system upends decades of precedent from the world’s strongest economy and has sent global markets reeling.The Guardian’s senior economics correspondent, Richard Partington, explains to Michael Safi the dynamics of a market crash and a trade war and how together they may contribute to the onset of a global recession. However, as he makes clear, the world is not yet in that worst-case scenario and steps can still be taken to minimise the risk. Continue reading...

Economics

3 d. ago EU drops plans to hit American bourbon with retaliatory tariffs

Drink removed from draft list after lobbying from whiskey-making Ireland and wine-producing Italy and FranceUS politics live – latest updatesAmid the economic maelstrom of Donald Trump’s trade war, drink makers might take a small drop of comfort: the EU has dropped plans to hit American bourbon with retaliatory tariffs.Bourbon and other US whiskeys have escaped EU countermeasures after heavy lobbying from the EU’s drinks-producing countries – such as whiskey-making Ireland and the wine behemoths Italy and France – who feared their alcohol industries would become casualties of a global trade war. Continue reading...

Events

4 d. ago The chart that shows how clever Warren Buffett is as rival billionaires Elon Musk and Jeff Bezos reel from Trump's tariffs

Warren Buffett made some smart moves in the stock market over the last year, as he became the only billionaire among the world's richest whose net worth increased in recent days.

Politics

4 d. ago Donald Trump says he is not looking at pausing tariffs as US markets close after rocky day – business live

US president, when asked about considering a pause in global tariffs, says ‘We’re not looking at that’Trump threatens additional 50% tariffs on China over retaliatory leviesVolatility grips global stock markets as Trump insists on tariff ‘medicine’Hong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says. Continue reading...

Economics

4 d. ago Rollercoaster day for global stock markets as BlackRock CEO says US ‘probably in recession’ – business live

Larry Fink says most CEOs he talked to agreed with assessment; US indexes see sharp ups and downs; UK index loses nearly 4.5% US politics live: Trump threatens China with additional tariffsVolatility grips global stock markets as Trump insists on tariff ‘medicine’Hong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says. Continue reading...

Economics

4 d. ago Donald Trump threatens China with even more tariffs sparking fresh trade war fears

Donald Trump has sent stock markets around the world tumbling as his sweeping - and bizarre - tariffs continue to wipe out confidence in the American economy

Events

4 d. ago Rollercoaster for US stock markets as tariff uncertainty puts investors on edge

Wall Street shows some recovery after initial falls as Trump’s team dismiss rumours of a 90-day pause on tariffs as ‘fake news’US Politics Live: Trump says Federal Reserve should cut ratesVolatility grips global stock markets as Trump insists on tariff ‘medicine’Hong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says. Continue reading...

Economics

4 d. ago Trump tariffs live: FTSE opens sharply down after Asian markets plummet over trade fears

US president calls sweeping tariffs ‘medicine’ as fears of global trade war lead investors to ramp up bets on risk of recession

Politics

4 d. ago Asian markets plunge further amid tariff fallout; Trump says ‘sometimes you have to take medicine’ – business live

Japan’s Nikkei 225 tumbles nearly 9% on Monday as Hong Kong’s Hang Seng down 8% and South Korea trading temporarily halted amid Trump tariff concernsHong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says. Continue reading...

Economics

5 d. ago Trump officials claim 50 nations want to start US trade talks as Starmer vows to protect UK businesses

Back in Britain, the Prime Minister has pledged to ‘turbocharge plans that will improve our domestic competitiveness’ in the wake of Trump’s tariffs and fears of a global trade war

Politics

7 d. ago China hits back hard at ‘bullying’ Trump tariffs as global recession fears grow

Beijing imposes punitive 34% extra tariffs on all goods imported from US, exacerbating stock market sell-offBusiness live – latest updatesUS politics live – latest updatesChina has hit back hard against Donald Trump’s “bullying” tariffs, raising fears that the escalating trade war could trigger a global recession and prompting fresh turmoil in financial markets.Beijing retaliated on Friday with punitive 34% additional tariffs on all goods imported from the US – mirroring the US decision and exacerbating a sell-off on global stock markets. Continue reading...

Politics

7 d. ago JPMorgan now predicts a 60 percent chance of a recession this year as Trump’s tariffs rock stock market

The Dow Jones fell 1,000 points at opening on Friday as investors reels from Trump’s tariff announcement

Economics

7 d. ago Stock markets continue to fall as fears over Trump’s trade war dragging down the economy fuel sell

Friday’s stock market comes after a historically bad day as investors react to Trump’s tariff plan

Politics

7 d. 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

7 d. 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

7 d. ago Finance guru Bill Ackman's stern advice to world leaders reeling from Trump's tariffs amid fears of trade war

Finance guru Bill Ackman offered some stern advice to world leaders reeling from US President Donald Trump's tariffs amid fears of a global trade war.

Politics

8 d. ago Donald Trump tariffs trigger stock market meltdown as more than £24billion wiped off FTSE 100

Financial markets have been spooked by US President Donald Trump's announcement of a blanket 10% tariff on all imports to the States, and higher levies for many countries, and fears of a trade war and the risk of recession

Economics

8 d. ago Northern Ireland fears becoming ‘collateral damage’ in trade war

Brexit deal means region could be hit by EU counter-tariffs on US goods

Events

8 d. ago Stock markets tumble around the world on fears of brutal global trade war

Stock market tumbles in London but European bourses suffer bigger falls

Events

8 d. ago Trump imposes ‘Liberation Day’ tariffs on every nation as senators rebel over Canada duties: Live updates

President Trump has revealed the next phase of sweeping tariffs which sees stock markets slide as his trade war sparks recession fears

Politics