69 m. ago Britain's growth outlook is slashed 0.5% by IMF in fresh blow to Rachel Reeves as she jets off to Washington for crunch talks as Trump's tariff war tests 'resilience of global economy'

Britain's growth outlook has been downgraded by the International Monetary Fund in a fresh blow for Labour - as Donald Trump's tariff wars deliver a severe hit to the global economy.

Politics

70 m. ago Trump tariffs chaos will slash UK economic growth and spike inflation, says IMF in double blow to Reeves

‘The US effective tariff rate surged past levels reached during the Great Depression,’ say the leading economists

Economics

71 m. ago UK economic growth forecast slashed as Trump’s tariffs hit Britain harder than Europe

The downgrade to Britain’s growth forecasts heightens the importance of Rachel Reeves securing a trade deal for the UK

Economics

71 m. ago US, global economic outlook worsens in the face of Trump's tariffs, IMF says

The outlook for the U.S. and global economies this year and next has significantly worsened in the wake of President Donald Trump’s tariffs and the uncertainty they have created

Economics

72 m. ago Gloomy economic forecast piles pressure on Reeves to secure trade deal with Trump

IMF downgrade lays bare the impact of Trump’s tariffs, with experts warning there could be more pain to come unless chancellor can secure a US-UK trade deal, as Kate Devlin reports

Economics

1 hour ago FTSE 100 bucks global Trump slump after BoE official says US tariffs might CUT inflation and wades into president's standoff with Fed chief

The FTSE 100 edged up after Megan Greene, a member of the Monetary Policy Committee, gave an assessment of the consequences of Donald Trump 's trade war.

Politics

2 h. ago Tariffs will raise prices. But the climate crisis is the real inflation risk | Mark Blyth and Nicolò Fraccaroli

As temperatures rise and countries back off their decarbonization efforts, we must confront a reality central banks can’t correctInflation is, at base, a tax on consumption – and it hits the poor the hardest, since they consume more of their incomes and the rich consume less.That’s one reason for concern over Donald Trump’s tariffs, which will disproportionately affect the poor. When the 90-day pause on the tariffs expires, it is reasonable to expect prices to rise, and by a lot.Mark Blyth is a political economist and professor at Brown University. Nicolò Fraccaroli is a visiting scholar at Brown University Continue reading...

Economics

3 h. ago Swiss drugmaker Roche to invest $50bn in US in effort to dodge Trump tariffs

Company says it will create 12,000 jobs in manufacturing and R&D over next five yearsBusiness live – latest updatesThe Swiss drugmaker Roche has said it will put $50bn (£37bn) into manufacturing in the US over the next five years, joining the queue of companies unveiling investments to try to head off potentially punitive Donald Trump tariffs.Roche said on Tuesday the investment would create more than 12,000 jobs, including 6,500 in construction and 1,000 at new and expanded existing facilities in the US, including factories and distribution centres in Kentucky, New Jersey and California. Continue reading...

Economics

3 h. ago Trump latest: Vance admits president’s tariffs will cause ‘profound changes’ while gold surges to new high

Vice president J.D. Vance said the ‘rebalancing’ from aggressive tariffs would ‘produce great benefits for American workers’

Politics

10 h. ago Japanese investors sold $20bn of foreign debt as Trump tariffs shook markets

Pension funds likely to have offloaded US bonds because of tumble in Wall Street stocks, investors say

Economics

12 h. ago Experts warn Trump’s trade war with China could erupt into a cold war

Earlier this month, Trump temporarily paused most tariffs while ratcheting up rates on China

Events

16 h. ago China threatens to retaliate against countries that strike trade deals with Trump

Warning from Beijing comes as Vice President JD Vance meets Indian Prime Minister Narendra Modi to discuss path to trade deal

Economics

17 h. ago Recession ‘absolutely’ will happen if Trump’s tariffs remain, top financial expert says

‘We will have bankruptcies of retailers of very significant magnitudes if this is allowed to continue,’ Torsten Slok says

Economics

19 h. ago Modi and JD Vance hail ‘significant progress’ in trade negotiations

Visit to India by vice-president and family could be overshadowed by US visa tensions and farmer protestsIndia’s prime minister, Narendra Modi, and US vice-president JD Vance have hailed “significant progress” in negotiations toward a bilateral trade agreement, a deal that could help India avoid sharp tariff hikes announced by President Donald Trump.Vance, accompanied by second lady, Usha Vance, and their children – Ewan, Vivek, and Mirabel – landed in the Indian capital earlier on Monday for a four-day visit combining high-level negotiations with family sightseeing. They were received at the airport by railways minister Ashwini Vaishnaw. Vance stood under a red canopy that shielded him from the blazing sun as soldiers saluted and a military band played the US anthem. Continue reading...

Politics

21 h. ago US stock markets fall again as Trump calls Fed chair ‘a major loser’

President amps up attacks against Jerome Powell, pushing him to lower interest rates to offset impact of tariffsUS stock markets started falling again on Monday morning as Donald Trump continued attacks against the Federal Reserve chair, Jerome Powell, who Trump called “a major loser” for not lowering interest rates.“There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump wrote on social media. Continue reading...

Politics

24 h. ago The inside story of how one of Trump's boldest schemes came together with a billionaire and ice cream

As the presidential campaign was drawing to a close, President Donald Trump spoke with his Wall Street friend about the CEO's grand plans for the US. Six weeks later he was hired.

Politics

25 h. 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

31 h. ago China sends back Boeing jet worth $55m as Trump tariffs continue to hurt trade

Beijing cautions third countries against making trade concessions to US at its expense

Politics

31 h. ago China sends back Boeing jet as Trump tariffs escalate trade war with US

Beijing cautions third countries against making trade concessions to US at its expense

Politics

47 h. ago ‘Sell America’: investors are increasingly avoiding the US – here’s what it means for Australian markets

After decades as a safe haven, Donald Trump’s economic upheaval has some traders looking to put their money elsewhere – and countries looking to decouple their economiesElection 2025 live updates: Australia federal election campaignGet our afternoon election email, free app or daily news podcastAt the same time as Australians are cutting back on plans to visit the US under Donald Trump, a new type of investment strategy designed to avoid America is fast gaining popularity.The “sell America trade”, an expression that barely existed before Trump spooked markets by unveiling his new tariff regime late on 2 April, is now a common expression among traders and appears regularly in investment notes to explain the day’s price movements. Continue reading...

Economics