2 h. ago Trump’s ‘Liberation Day’ could mean recession in the US and pain worldwide | Steven Greenhouse

The US president’s tariffs are vengeful and impetuous – and will have immense costs with no clear goalWith the huge and painful tariffs that Donald Trump announced on Thursday, “Tariff Man” is acting like a paranoid 12-year-old bully who is convinced that everyone has wronged him, and he wants revenge. But the president’s instrument of revenge – massive tariffs – is going to do serious damage to the US and global economies. Stock market investors are convinced that’s the case, with Wall Street and world stock markets losing trillions of dollars in value in recent days as a result of Trump’s obsession.The president has escalated his risky, vengeful trade war even though the US economy was in strong shape when he took office – the jobless rate was just 4.1%, inflation was below 3% and US economic growth was the strongest in the industrial world, with its stock market at record levels. So it’s unclear whether the US economy needed the shock treatment that Trump is inflicting. The price...

Politics

2 h. ago Trump live updates: Historic stock plunge after tariff announcement leaves Americans rattled

Trump’s trade war escalates as China strikes back with 34 percent tariffs on all U.S. goods, sending stock markets plummeting and wiping out $6 trillion in two days

Politics

4 h. ago Trump tariffs live: 10% tariff kicks in for UK after US stocks and FTSE 100 see biggest drops since Covid

UK’s key FTSE-100 stock market suffered its worst one-day drop since the pandemic on Friday

Politics

5 h. ago Trump tariffs live: China says ‘market has spoken’ after global stocks sink and FTSE sees biggest drop since Covid

UK’s key FTSE-100 stock market suffered its worst one-day drop since the pandemic

Politics

6 h. ago America’s Brexit? Trump’s historic gamble on tariffs has been decades in the making

Trump’s economic assault on the world stunned economists and sent stock markets into a spiral. Who will pay the price?Donald Trump’s vast overhaul of US trade policy this week has called time on an era of globalization, alarming people, governments and investors around the world. No one should have been surprised, the US president said.The announcement of 10% to 50% tariffs on US trading partners tanked stock markets after Trump unveiled a “declaration of economic independence” so drastic it drew comparison with Britain’s exit from the European Union – Brexit. Continue reading...

Politics

8 h. ago It could set the industry back 50 years: fashion braces for impact of Trump tariffs

From farmers to designers, the entire supply chain will be hit – but it is unclear what duties apply to a finished productFirst it was steel producers. Then automobiles. Now the fashion industry has been left reeling from Donald Trump’s announcement on Wednesday that he was imposing tariffs on more than 180 countries including severe levies aimed at some of fashion’s biggest manufacturing regions.Trump’s “liberation day” tariffs included a 10% duty on all imports to the US but “worst offender” countries – those with whom America has bigger trade deficits – face a higher rate. Several of these are key to fashion’s supply chains. China, where everyone from Prada to Zara outsource production, faces a 54% duty. Vietnam, where more than half of Nike’s footwear was produced last year, will be subject to a 46% tariff. Pakistan, a key manufacturer of denim items, will be hit with a 29% duty. Bangladesh, where garment manufacturing makes up to 80% of its total exports, will be subjected to 3...

Politics

8 h. ago Rachel Reeves speaks on whether tax rises will hit workers after Donald Trump tariffs announcement

The UK Chancellor was forced to make unpopular cuts to the welfare bill after the country's growth forecasts were downgraded.

Economics

9 h. ago Historic stock plunge leaves Americans rattled after Trump tariff announcement: Live updates

Trump’s trade war escalates as China strikes back with 34 percent tariffs on all U.S. goods, sending stock markets plummeting and wiping out $6 trillion in two days

Politics

9 h. ago Historic stock plunge after Trump tariff announcement leaves Americans rattled: Live updates

Trump’s trade war escalates as China strikes back with 34 percent tariffs on all U.S. goods, sending stock markets plummeting and wiping out $6 trillion in two days

Politics

12 h. ago Let's take a breath: Definitely not 'happy' Starmer embarks on diplomatic mission to talk allies out of any big retaliations over tariffs

The Prime Minister last night began a flurry of diplomatic calls designed to coordinate responses to President Trump's 'Liberation Day' announcement on tariffs

Politics

12 h. ago Trump’s 10% tariff on UK products to come into force as stock markets plunge

The FTSE 100 fell on Friday in its worst day of trading since the start of the pandemic while markets on Wall Street also tumbled.

Politics

13 h. ago As Trump's tariffs trigger market meltdown, leading bank warns there is now a 60 per cent chance of a global recession

As the market meltdown triggered by Donald Trump's trade war accelerated, the FTSE 100 suffered its sharpest drop since the outbreak of the pandemic.

Economics

16 h. ago Trump tariffs live: Global stocks sink and FTSE sees biggest drop since Covid pandemic on second day of market turmoil

Beijing hits back after president’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in biggest one-day loss since March 2020

Politics

17 h. ago JD Vance applauded Trump’s tariff announcement from the Rose Garden

Vance has a history of backpedaling past criticisms of ‘fraud’ Trump and his ideas

Politics

18 h. ago Global trade war intensifies and shares tumble as China hits back at Trump tariffs

FTSE 100 suffers worst losses since Covid-19 as Starmer weighs British response to fees on imports

Events

18 h. ago Starmer speaks to world leaders as FTSE 100 plunges after Trump’s tariffs

Trading has been hammered in the aftermath of Donald Trump unveiling his full range of import taxes on countries around the world.

Politics

18 h. ago Keir Starmer to mount diplomatic blitz as Donald Trump's tariff war triggers meltdown

The global economy has been rocked by Donald Trump slapping tariffs on countries around the world - with the UK FTSE 100 suffering its worst day of trading since Covid

Politics

18 h. ago Keir Starmer to mount diplomatic blitz as Donald Trump's tariff war triggers mayhem

The global economy has been rocked by Donald Trump slapping tariffs on countries around the world - with the UK FTSE 100 suffering its worst day of trading since Covid

Politics

18 h. ago Trump insists he won’t back down from global trade war as markets slump

On social media, the president said, ‘My policies will never change’, before suggesting possible change with VietnamDonald Trump doubled down on his decision to launch a global trade war, declaring that he would “never” back off from sweeping tariffs on US trading partners.The US president’s announced action sent shock waves around the world this week, prompting fierce threats of retaliation and sharp sell-offs in stock markets. Continue reading...

Politics

18 h. ago China’s retaliatory tariffs spark fresh turmoil in global financial markets

Fresh turmoil was sparked on Friday by China announcing it will impose a 34% tariff on imports of all US products.

Economics