68 h. ago The Guardian view on the IMF’s warning: Donald Trump could cost the world a trillion dollars | Editorial

The US president’s economic agenda collides with fragile financial systems, triggering market fears, investor flight and developing nation chaosWake up! When the most sober of global institutions, the International Monetary Fund, abandons its usual technocratic calm to sound the alarm on the political roots of global financial instability, it’s time to pay attention. The IMF is warning of a non-negligible risk of a $1tn hit to global output, as Donald Trump’s erratic “America first” agenda – part oligarchic enrichment scheme, part mobster shakedown – collides with a perfect storm of global financial vulnerabilities.Such a shock would be equivalent to a third of that experienced in the 2008 crisis. But it would be felt in a much more fragile and politically charged environment. This time, the crisis stems not just from markets but from the politics at the heart of the dollar system. The IMF’s latest Global Financial Stability Report sees the danger in Mr Trump’s trade ...

Events

2 d. ago IMF chops UK growth forecast as Trump tariffs hit global economy

IMF chops UK growth forecast as Trump tariffs hit global economy  Reuters

Politics

3 d. 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

3 d. ago IMF warns of rising US recession risk and defends Fed rate policy

Fund lowers outlook for G7 nations and major economies including China and India as trade conflict hits growth

Events

1 week ago BP dropped its green pledges and turned back to oil. Now the price of crude has collapsed

At its AGM this week, the company will face not only the activist investor at its heels, but a global economy being changed from the White HouseAfter Donald Trump’s “liberation day” on Wednesday last week, BP lost almost a quarter of its market value in a share price rout even deeper than the oil giant endured in the wake of the Deepwater Horizon disaster. The collapse in global oil prices in the wake of the US president’s ­tariff blitz may have wiped billions from its ­market value – but Trump isn’t BP’s only problem.The oil company will face shareholders this week for the first time since it bowed to investor pressure to abandon its green energy ambitions in favour of a return to fossil fuels, and its chair, Helge Lund, agreed to step down from the board. Continue reading...

Politics

1 week ago Trump is ‘making it up as he goes,’ hurting US and allies, charges Wall Street Journal

Whose side is he on, wonders editorial

Politics

1 week ago Trump is ‘making it up as he goes’ on tariffs, hurting US and allies, charges Wall Street Journal

Whose side is he on, wonders editorial

Politics

2 w. ago Voices: Magaland is having its faith tested – maybe St Donald is only human after all

Everyday Americans who voted for Trump to make them rich have had a rude awakening from his market-plunging tariffs, says Jon Sopel

Politics

2 w. ago Will global climate action be a casualty of Trump’s tariffs?

Clean energy investors likely to pull back from US, but other countries may seize opportunity to speed transitionDonald Trump’s upending of the global economy has raised fears that climate action could emerge as a casualty of the trade war.In the week that has followed “liberation day”, economic experts have warned that the swathe of tariffs could trigger a global economic recession, with far-reaching consequences for investors – including those behind the green energy projects needed to meet climate goals. Continue reading...

Politics

2 w. ago The Guardian view on the tariff war pause: the Trump trade shambles is not over | Editorial

The US president blinked first, but this is just a time-out. The threat to the global economy remains real.It was Donald Trump who blinked first. Never forget that. China is unlikely to overlook its importance. A week after launching an all-out global trade war, the US president paused significant parts of it for 90 days. Having insisted that he would stick with the random tariffs he imposed on most trading nations, Mr Trump suddenly decreed that he would reduce most of them to 10%. It was a major humiliation.Yet 10% is still a significant tariff to bear for nations exporting to the US. This is also only a pause until July, not a withdrawal, so the uncertainty remains. And huge tariffs still remain on China (now hiked to 145%), Canada and Mexico (both 25%), as well as on all US imports of steel, aluminium and cars (also 25%). Mr Trump is now substituting a US-world conflict with a US-China one. The two largest economies in the world – which between them have generated around ha...

Politics

2 w. ago ‘We are stepping up,’ UK defence secretary tells ‘coalition of the willing’ for Ukraine – Europe live

John Healey tells meeting of more than 30 countries that coalition is working on ‘putting Ukraine in the strongest possible position’We’re getting a bit more details from EU spokesperson, Olof Gill, speaking at the commission’s press briefing right now (which, notably, got delayed by almost half an hour as that von der Leyen statement was being put out).He said:We are not going to offer any greater detail at this point about what we are not saying to the Americans beyond what we have already said.We want to negotiate, we want to talk. Continue reading...

Society

2 w. ago AP PHOTOS: Trump pushed the global economy to the brink with tariffs — and then pulled back

This is a photo gallery curated by AP photo editors

Politics

2 w. ago Ursula von der Leyen says Trump’s tariffs pause is ‘important step towards stabilising global economy’ – Europe live

European Commission president floats idea of zero-for-zero tariff agreement with US, saying she hopes to achieve ‘frictionless trade’Greek prime minister Kyriakos Mitsotakis put forward a proposal for a “win-win” trade deal with the US last night, saying the EU and the US should push "for “a solution which will be mutually beneficial.”Speaking to Breitbart US, he said there was “still room for negotiations before we consider any major reciprocal response beyond what has been announced today, which, anyhow, was, the expected EU reaction.” Continue reading...

Politics

2 w. ago Trump's massive 104% tariff sparks 'bullying' response from China as market plunges

Donald Trump has declared a trade war on the rest of the world after his latest round of tariffs went into full effect at midnight. China has now been slapped with an eye-watering 104%

Politics

2 w. ago Donald Trump tariffs crisis LIVE: London Stock Exchange opens after global markets plunge into chaos

Donald Trump is refusing to back down on his plans for crippling tariffs around the world which have already led to huge drops in stock market prices and there is fear for more chaos to come

Events

2 w. ago Global recession fears as markets plunge on Trump’s tariff ‘medicine’

Banks warn of slowdown but president threatens to escalate trade war with China by imposing even higher import taxes

Economics

2 w. ago Petrol car ban date confirmed by Keir Starmer amid Donald Trump tariff fallout

The Prime Minister backed the British car industry on Monday as he warned Donald Trump's tariffs will have a 'profound' impact on the global economy

Politics

2 w. ago Keir Starmer confirms when petrol, diesel and hybrid cars will be banned in major speech

Keir Starmer eased rules around new hybrid cars as he warned Donald Trump's tariffs will have a 'profound' impact on the global economy as markets tumbled across the world

Events

2 w. ago Donald Trump warns 'don't be weak and stupid' as tariffs send stock markets into freefall

Donald Trump remained defiant on Monday despite plunging markets as he insisted his tariffs are necessary to rebalance global trade and rebuild domestic manufacturing

Events

2 w. ago Crypto meltdown as $250BILLION is wiped off market value with Bitcoin plunging to five month low after Trump tariffs triggered global financial 'bloodbath'

Bitcoin's value had fallen to a five-month low of $76,884.04 on Monday morning, down 7.2 per cent in the last day and 5.3 per cent in the last seven.

Economics