28 m. ago China’s retaliatory tariffs on US farm goods kick in, as trade war escalates – business live

Rolling coverage of the latest economic and financial newsChina’s stock markets have dropped today, as the double-whammy of trade war fears and deflation weighed on investors.The CSI 300 index dropped by 0.4%, while in Hong Kong the Hang Seng index slid by 1.8%.The week starts on a sharp negative note for the Chinese stocks, as the latest inflation update showed that consumer prices in China fell the most in more than a year .Overall, the week is expected to bring more tariffs the Chinese tariffs on US agricultural and some Canadian products will start today, while the US steel and aluminium tariffs will be live from Wednesday.Monday kicks off with the same old deflationary drumbeat as China’s consumer inflation took a deeper dive than expected, slipping below zero for the first time in over a year. The data only reinforces what’s been clear for months—deflationary pressures remain firmly entrenched in the world’s second-largest economy.The property sector remains stuck in the mud, ...

Economics

12 h. ago ‘I hate to predict things’: Trump doesn’t rule out US recession amid trade tariffs

President downplays recent stock market volatility that followed his ducking and weaving over tariff policyDonald Trump on Sunday refused to rule out the possibility that the US economy will head into recession this year and that inflation will rise, as his chaotic trade tariffs policy cause uncertainty and market turbulence.The US president predicted that his economic goals would take time and a period of transition to bear fruit. But when asked in an interview with the Fox News show Sunday Morning Futures “are you expecting a recession this year?” he demurred.Reuters contributed reporting Continue reading...

Politics

15 h. ago Trump does not rule out recession as he rejects business fears over tariffs

US administration concedes some prices might rise as fears grow of trade chaos causing disruption

Economics

17 h. ago Trump won’t rule out US recession amid tariff trade war confusion in Fox News interview

President won’t deny recession is coming as he says US faces ‘period of transition’

Politics

17 h. ago Trump refuses to rule out recession or clarify tariffs policy in Fox interview: Live

President’s comments follow turbulent week on Wall Street over tariff uncertainty

Politics

22 h. ago ‘Nothing like this in American history’: the crisis of Trump’s assault on the rule of law

Even if the supreme court were to resist the president’s onslaught, it has little means to enforce its decisionsWhen the chief justice of the US supreme court, John Roberts, delivered his bombshell ruling last July granting Donald Trump absolute immunity from criminal prosecution for official acts, he laid out his vision of an expansive presidency. The executive, he wrote, should be “vigorous and energetic”, and free to carry out duties “boldly and fearlessly”.If that sums up Roberts’ ideal occupant of the Oval Office, then he has certainly got what he wants in the 47th president. In his first month back, Trump has vigorously fired tens of thousands of federal workers; energetically ignored congressional statutes; boldly run roughshod over the constitution; and fearlessly unleashed Elon Musk, the world’s richest man, in a slash-and-burn campaign against the US government. Continue reading...

Events

5 d. ago As Republicans thunderously applauded and Democrats walked out in droves, Trump’s Congress speech showcased the US divide | Lloyd Green

The president continues to yearn for adulation, but self-deprecation and modesty were nowhere to be found in his address to CongressTrump declares administration ‘just getting started’ in address to CongressDonald Trump is busy while the world around him is mired in chaos. Six weeks into his second term, he has reversed the course of US policy towards Ukraine, imposed tariffs on China, Canada and Mexico, and delegated the task of slashing government to Elon Musk. The stock market swoons.Recession and stagflation are no longer hypotheticals. The term “trade war” fills the headlines. The Dow sits hundreds of points below where it stood on Inauguration Day. Trump’s second term is already consequential and controversial. Continue reading...

Politics

5 d. ago Trump’s Tariffs and retailers’ warnings: The truth behind the US economy and whether a recession is coming

The economy under Trump’s first month in office is not what he promised on the campaign trail and it looks to be an uncertain year for the average American, economists told The Independent

Events

9 d. ago ‘Britain doesn't rule the waves – it waives the rules for anything Trump wants’

Everything will be peachy as long as we keep toddler Trump happy, and as there are no depths our diminished country won’t plumb to win his approval, here’s Brian Reade's plan to win him over

Politics

2 w. ago US politics briefing: Trump administration warns Kyiv and picks up court win in mass firings case

From the Trump administration’s latest moves abroad and in the US – here are the key US politics stories from Thursday at a glanceThursday saw a judge rule that the Trump administration can continue the mass firing of US federal workers, rejecting a bid by labor unions to stop the US president dramatically cutting the jobs of many of the 2.3 million people employed by the government. The IRS began laying off roughly 7,000 workers on Thursday.In his 16-page order, US district judge Christopher Cooper started by saying that Trump’s executive actions had “caused, some say by design, disruption and even chaos in widespread quarters of American society”. Continue reading...

Events