2 h. ago First lawsuit against Trump’s tariffs argues he illegally used emergency powers

‘These unlawfully implemented tariffs cause harm to American businesses, American jobs, and American consumers,’ says Florida entrepreneur who filed suit

Politics

2 h. ago Trump tariffs come into effect in ‘seismic’ shift to global trade

‘Baseline’ 10% import levy takes effect at US seaports, airports and customs warehouses on Saturday, with some higher tariffs to begin next weekUS customs agents began collecting President Donald Trump’s unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.The initial 10% “baseline” tariff took effect at US seaports, airports and customs warehouses at 12.01am ET (0401 GMT), ushering in Trump’s full rejection of the post-second world war system of mutually agreed tariff rates. Continue reading...

Politics

4 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

4 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

6 h. ago Keir Starmer 'hopes to win over Donald Trump in tariffs row with trip to Scotland to meet the King

Although the trip is not directly linked to diplomatic efforts to improve tariffs between the UK and the US, some Whitehall officials are hoping that the royal itinerary makes way for constructive talks.

Politics

9 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

9 h. ago Retirees keep their eyes on the economy as Trump's tariffs roil financial markets

With financial markets roiling as President Donald Trump unveiled his latest tariffs this week, the economy has been top of mind for many retirees

Economics

13 h. ago Richard Branson pleads for Donald Trump to realise ‘mistake’ of his tariff chaos

‘Courage and self-awareness are cornerstones of true leadership – that includes acknowledging errors and making corrections,’ Virgin boss tells US president

Politics

13 h. ago Fed chair warns of high inflation and slower growth as Trump tells him to cut interest rates – live

Federal Reserve chair says ‘we face a highly uncertain outlook’ as president tells him to cut interest ratesPeople in the US: how have your shopping habits changed due to Trump’s tariffs?Trump insists he won’t back down from global trade war as markets slumpThe Trump administration is taking aim at Brown University with threats to freeze $510m in grants, widening its promise to withhold federal funding from schools it accuses of allowing antisemitism on campus, according to multiple media outlets including Reuters and the New York Times.University officials said they had not yet been formally notified, but the school was among dozens warned last month that enforcement actions could be coming as the administration seeks to crack down on academic institutions . Continue reading...

Events

14 h. 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

14 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

14 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

14 h. ago FTSE latest: UK stock markets plunge in biggest daily fall since Covid after Trump tariffs

The stock markets in the UK, France, Germany, Japan, South Korea and Australia were all falling for a second day

Politics

15 h. ago The Guardian view on Donald Trump’s tariff ultimatum: tribute for access to America’s empire | Editorial

As the White House retools US imperialism with import duties, others must resist dependency – deepening regional ties and reducing exposure to chokepointsWhen Donald Trump stood before union auto workers in the Rose Garden he declared “Liberation Day”, promising to stand up for Main Street. Whether that pledge will be fulfilled is moot. He will declare victory either way. What the US president offered was not just an economic programme, but an imperial one.Mr Trump’s logic, if it exists, lies in the 397-page report on “foreign trade barriers” he brandished on Wednesday. Its message is brutally simple: you may sell your goods to Walmart shoppers, but only if you let US cloud services hoover up your data, US media flood your screens and US tech monopolies operate on their terms – not yours. TikTok is the test case for Trump’s platform nationalism: only US firms may mine data, reap profits and rule the digital empire. Continue reading...

Politics

15 h. ago FTSE suffers biggest daily drop since early in the pandemic as Wall Street slides again – business live

Global trade war escalates as Beijing hits back against Donald Trump with new tariffs on US goodsChina retaliates to Trump’s ‘bullying practice’ with 34% tariffs on US importsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right ...

Economics

15 h. ago How tiny Lesotho ended up with the highest US tariffs in the world

U.S. President Donald Trump's tariffs have struck among others the small southern African kingdom of Lesotho, one of the world's poorest nations

Politics

16 h. ago This is the barren, uninhabited island Trump has imposed 10% tariffs on

This is the barren, uninhabited island near Antarctica on which Donald Trump slapped a 10% import tariff when he announced his wide-reaching levies on Wednesday, 2 April.

Politics

17 h. ago ‘Oligarchy’: Trump exempts big oil donors from tariffs package

Trump’s new 10% universal tariffs will not apply to many fossil fuel products in sign of his fealty, advocates sayUS politics live – latest updatesThe sweeping package of tariffs unveiled by Donald Trump on Wednesday includes an exemption for the energy sector, which is a clear sign of the president’s fealty to his big oil donors over the American people, advocates say.Trump’s new 10% universal tariffs – which are higher for many major economies – are wreaking havoc on the global economy and are expected to increase consumer prices in the US. But the levies will not apply to many fossil fuel products, including liquefied natural gas imports, crude oil from Canada, and materials needed for making petrochemicals. Continue reading...

Politics

17 h. ago Trump tears into China for retaliating against him and vows that tariffs 'will never change' despite markets tanking

President Donald Trump remained bullish about the effects of his his newly enacted tariffs on Friday, despite retaliatory actions announced by China.

Economics

17 h. ago ‘My policies will never change’: Trump doubles down on trade war after China announces retaliatory tariffs – live

US president says on Truth Social that ‘this is a great time to get rich’ despite China issuing a 34% tariff on all US goods The Trump administration is taking aim at Brown University with threats to freeze $510m in grants, widening its promise to withhold federal funding from schools it accuses of allowing antisemitism on campus, according to multiple media outlets including Reuters and the New York Times.University officials said they had not yet been formally notified, but the school was among dozens warned last month that enforcement actions could be coming as the administration seeks to crack down on academic institutions . Continue reading...

Events