1 hour 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

1 hour ago Fox News debuts amazing new spin on Trump tariffs: It’s the ‘audit that we need’

Emily Compagno declared on Friday that she is ‘grateful for a commander-in-chief’ who is willing to engage in this global trade war.

Politics

2 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

2 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

3 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

4 h. ago FTSE 100 suffers worst day in FIVE YEARS as global markets go into meltdown over Donald Trump's trade war

Wall Street opened sharply lower as fears of a global recession mounted in the wake of the US President's extraordinary assault on allies and foes alike.

Politics

5 h. ago John Rentoul answers your Trump tariffs questions from the ‘Brexit dividend’ to chlorinated chicken

In a live Q&A, The Independent’s chief political commentator John Rentoul fielded readers’ questions on Trump’s trade war, its global consequences and the UK’s options for navigating this latest storm

Politics

5 h. ago Downing Street says Trump’s tariffs signal ‘new era’ in global economics

No 10 says US president’s decision is ‘disappointing’, as experts warn UK may have to raise taxes in autumnUK politics live – latest updatesDonald Trump’s tariffs signal a new global economic era, Downing Street has said, as economists warn the British government is likely to have to raise taxes in response.No 10 said on Friday the prime minister believed that this week’s trade announcement by the US president, which has started a global trade war and sent stock markets tumbling, marked a turning point in history. Continue reading...

Economics

5 h. ago US markets tumble further as global meltdown continues over Donald Trump's trade war

Wall Street opened sharply lower as fears of a global recession mounted in the wake of the US President's extraordinary assault on allies and foes alike.

Politics

7 h. ago ‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s tariffs

Impoverished African country is hit with highest tariff rate at 50%, overturning decades of global trade policyThe day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs.Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing, as well as diamonds, under a continent-wide trade agreement meant to help African countries’ development via tariff-free exports. Continue reading...

Politics

7 h. ago ‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s 50% tariffs

Impoverished African country is hit with highest tariff rate, overturning decades of global trade policyThe day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs.Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing under a continent-wide trade agreement meant to help African countries’ development via tariff-free exports, as well as diamonds. Continue reading...

Politics

7 h. ago From Nike to Apple: which US brands could be hit hardest by Trump tariffs and what’s at stake?

Companies with suppliers in Asian countries are likely to have to raise prices after the US president’s measuresBusiness live – latest updatesDonald Trump’s “liberation day” tariff war has so far wiped trillions off the market value of publicly traded companies, with the sweeping border taxes of up to 50% poised to wreak havoc on businesses across the world.US-based global brands from Nike to Apple have suffered some of the heaviest falls in share price and market value, as investors react to fears of price increases and a potential slowdown in consumer spending. Here, we examine some of the most exposed industries and brands. Continue reading...

Politics

8 h. ago Starmer to hold talks with other global leaders to discuss response to Trump tariffs, says No 10 – UK politics live

UK prime minister to speak to international leaders this weekend to ‘maintain stability and strengthen our partnerships abroad’Trump claims Starmer ‘very happy’ about tariffsDowning Street has refused to confirm President Trump’s claim that Keir Starmer was “very happy” about the treatment the UK is getting under the new US global tariff regime. (See 9.32am.) Asked about the president’s words at the morning lobby briefing, the PM’s spokesperson said that the government had already set out its position yesterday and that it was “disappointed” by the US tariff policy.Livia Tossici-Bolt has been sentenced at Poole magistrates’ court to a conditional discharge for two years for two charges of breaching a “buffer zone” outside an abortion clinic in Bournemouth, PA Media reports. See 11.22am. Continue reading...

Politics

8 h. ago 'There will be blood': Trump's trade war 'means 60% chance of global recession' as China hits back at the US and shares keep plunging

The FTSE 100 fell another 140 points this morning after the US president's extraordinary assault on allies and foes alike wiped £2trillion off company values internationally.

Events

8 h. ago Trump tariffs live: China hits US with huge 34% tariff after FTSE drops in market meltdown

China hits back with huge tariffs after Trump’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in its biggest one-day loss since March 2020

Politics

8 h. ago China launches major trade war response with 34% additional tariffs on US goods in retaliation for Trump's 34% levy

Beijing announced the measure today, igniting a major trade war between the two global economies. The latest wave of tariffs are in addition to the existing tariffs already imposed on US goods.

Politics

8 h. ago Stock markets plunge as China announces retaliatory 34% tariffs on US goods – business live

Global trade war escalate as Beijing hits back against Donald Trump with new tariffs on US goodsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: 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 to contro...

Economics

9 h. ago Trump tariffs live: FTSE hits lowest level since December as global market meltdown continues

FTSE slumps after Trump’s ‘Liberation Day’ tariffs wipe $2.4trn from S&P 500, in its biggest one-day loss since March 2020

Politics

9 h. ago David Lammy says he regrets Trump has embraced protectionism, something not seen in US ‘for nearly a century’ – UK politics live

David Lammy, foreign secretary, says UK is ‘a nation that believes in open trade’ and says government is negotiating with US over economic agreementAn anti-abortion campaigner at the centre of a free speech controversy involving the US government has been found guilty of breaching a “buffer zone” outside a Bournemouth abortion clinic, PA Media reports. PA says:Livia Tossici-Bolt was convicted at Poole magistrates’ court of two charges of breaching the Public Spaces Protection Order on two days in March 2023.The case involved the 64-year-old from Bournemouth holding a sign saying “Here to talk, if you want”.But I think our approach should be to slightly stand back and think, what does Britain want, and can it get from the rest of the world, and what can we contribute?And in that regard, it’s important to realise that the rest of the G7, except the US, collectively are the same size as the United States. And I would have thought a very sensible thing to be doing is having a serious co...

Politics

9 h. ago 'There will be blood': Trump's trade war 'means 60% chance of global recession' as shares keep plunging

The FTSE 100 fell another 140 points this morning after the US president's extraordinary assault on allies and foes alike wiped £2trillion off company values internationally.

Events