21 h. ago The Swiss lived in splendid isolation for years. Trump’s tariffs have shattered that complacency | Joseph de Weck

The shockwaves sent by the US president could finally push Switzerland closer to the EUGrowing up in Zurich often felt like being removed from the world. It shouldn’t be that way: after all, Switzerland is at the heart of Europe. Riding on the cosy Zurich trams, one hears all the world’s languages; and the airport offers more direct intercontinental flights than Berlin. And yet, coming of age in Switzerland is like sitting in an aquarium looking at the world through a thick bulletproof window.That glass was shattered last week when Donald Trump announced 39% tariffs on Swiss exports. The US is the most important destination for Swiss products: 18.6% of all its exports go there. If Trump maintains the tariffs, sales to the US “will be effectively annihilated”, said Switzerland’s industry lobbying group. The rightwing Swiss business minister, Guy Parmelin, announced a furlough programme to shield the economy from “mass layoffs”. The tabloid newspaper Blick captured the mood with a sta...

Politics

36 h. ago Core inflation jumps as consumers face higher prices as Trump’s tariffs start to take effect

The report is the first major economic indicator report since Trump fired the the chief statistician for the Bureau of Labor Statistics

Economics

46 h. ago Trump wants people to buy American. Interest in doing so is plummeting, new poll finds

Consumers say they are less likely than before to be swayed by a ‘made in USA’ label — suggesting that Trump’s tariffs are having the opposite of their intended effect

Politics

6 d. ago Dozens more countries face higher taxes on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ levies were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesDozens of countries face higher taxes on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs have come into force.The sweeping “reciprocal” levies announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

6 d. ago Dozens more countries face higher levies on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ rates were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesBusiness live – latest updatesDozens of countries face higher levies on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs has come into force.The sweeping “reciprocal” rates announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

7 d. ago Airbnb warns of ‘tough’ months ahead even as it beats estimates

Executives caution on future earning margins as Trump’s tariffs go into effect and it invests in new services

Events

7 d. ago Apple set to boost US investment plans by $100bn, says White House

Tech giant to announce expanded pledge ahead of deadline for Donald Trump’s new tariffs to take effect

Economics

7 d. ago Honda quarterly profits drop by half as carmaker feels effects of Trump tariffs

Fall in operating profits also due to losses on electric car sales in US but drop is less than manufacturer estimatedBusiness live – latest updatesThe Japanese carmaker Honda has reported a 50% drop in quarterly profits as it counted the cost of Donald Trump’s tariffs and electric vehicle policies, even as it said the full impact would be less than its worst expectations.The manufacturer’s operating profits fell by half to 244bn yen (£1.2bn) in the three months to June, according to financial results published on Wednesday. That was mainly because of a 124bn yen hit from tariffs, as well as 113bn yen in losses on electric car sales in the US. Continue reading...

Politics