2 h. ago Lula threatens 50% tariff on US goods in retaliation for Trump levy on Brazil

Brazilian president says ‘if he charges us 50%, we’ll charge him 50%’ after Trump cited trial of Bolsonaro to justify tariffBrazil threatened to hit back against Donald Trump’s plan to introduce 50% tariffs on its exports with its own 50% tariff on US goods, setting the stage for a precipitous trade war.“If he charges us 50%, we’ll charge him 50%,” Luiz Inácio Lula da Silva, the Brazilian president, told local news outlet Record, a day after Trump threatened to impose steep duties on Brazilian goods and accused the country of conducting a “witch-hunt” against its former president Jair Bolsonaro, who is facing a trial over his attempt to overturn his 2022 election defeat. Continue reading...

Politics

9 h. ago Market volatility recedes as investors brush off Trump’s tariff threats

‘Taco trade’ dominates as stocks, bonds and currencies remain calm

Economics

25 h. ago TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood

Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports

Economics

34 h. ago Bank of England says UK banks can increase riskier mortgage lending – business live

Rolling coverage of the latest economic and financial news, as BoE recommends banks can issue more high loan-to-income level loansCopper prices in US hit record high after Trump announces 50% tariffTrump threatens to escalate trade war amid confusion over new tariff ratesCarsten Menke, Head of Next Generation Research at Julius Baer, says the copper tariffs will be inflationary domestically in the US and deflationary internationally – which matches the price action we’ve seen since last night.Menke also points out that the jump in US copper prices (13% yesterday) is less than the 50% tariff, implying traders expect some imports will be exempt, saying:President Trump announced the imposition of 50% import tariffs at a cabinet meeting yesterday. While US-traded futures jumped on the news, the price differential is well below the tariff level, pointing to expectations of exemptions for key suppliers or expectations of different demand dynamics.As already mentioned, we remain of the con...

Economics

36 h. ago Copper prices in US hit record high after Trump announces 50% tariff

Latest escalation in trade war is expected to push up costs across key parts of US economyBusiness live – latest updatesCopper prices hit a record high in the US after Donald Trump announced he would impose a 50% tariff on the industrial metal, in the latest escalation in his trade war.Trump said before a cabinet meeting on Tuesday: “Today we’re doing copper,” proposing a 50% tariff rate for imports. He also threatened to impose a 200% border tax on pharmaceuticals but in a year or year and a half’s time. Continue reading...

Politics

37 h. ago Business news live: Housebuilders pay £100m after investigation and copper hits record price on tariff threat

Stock markets updates and business news from Wednesday

Economics

45 h. ago US copper prices rise to record high as Trump threatens 50% tariff

President also says he will impose levies of up to 200% on drug imports after a transition period

Politics

46 h. ago US copper prices soar to record high as Trump threatens 50% tariff

President also says he will impose levies of up to 200% on drug imports after a transition period

Politics

50 h. ago Trump threatens to escalate trade war amid confusion over new tariff rates

US president announces tariffs of up to 200% on foreign drugs and 50% on copper as he continues to shift plansDonald Trump vowed to further escalate his trade wars on Tuesday, threatening US tariffs of up to 200% on foreign drugs and 50% on copper, amid widespread confusion around his shifting plans.Hours after saying his latest deadline for a new wave of steep duties was “not 100% firm”, the US president declared that “no extensions will be granted” beyond 1 August. Continue reading...

Events

56 h. ago Wall Street turns more bullish on US stocks despite Trump’s tariff threats

Goldman Sachs joins other banks in lifting end-of-year target for S&P 500 index

Politics

2 d. ago Brics nations hit back at ‘emperor’ Trump over tariff threats

Host Brazil criticises US president as being ‘very irresponsible’ for vowing extra levies on states aligned to the group

Events

3 d. ago What is Brics? Trump threatens 10 per cent extra tariff over 'anti

Donald Trump has set strict rules for any country “aligning themselves with the Anti-American policies of BRICS”

Politics

3 d. ago European markets set to open mixed amid fresh U.S. tariff threats

European markets set to open mixed amid fresh U.S. tariff threats  CNBC

Economics

4 d. ago EU leaders race to secure a deal as deadline looms in Trump trade talks

There are just two days of talks left before the US president’s potentially swingeing tariffs are restoredThe EU is entering a crunch week with only two days of talks left to secure a trade deal with Washinton to avert Donald Trump’s threatened 50% tariff on its imports into the US.According to the US treasury secretary, Scott Bessent, on Friday, the negotiations – which continued over the weekend – are focussed on 15 to 18 agreements with important partners, while Trump warned of import tax rates of up to 70% on others. Continue reading...

Politics

4 d. ago EU leaders split over tactics as deadline looms for Trump trade talks

With two days of talks left, some want a quick UK-style deal to avert 50% tariffs while others want to play hardballThe EU is entering a crunch week with only two days of talks left to secure a trade deal with Washinton to avert Donald Trump’s threatened 50% tariff on its imports into the US.According to the US treasury secretary, Scott Bessent, on Friday, the negotiations – which continued over the weekend – are focussed on 15 to 18 agreements with important partners, while Trump warned of import tax rates of up to 70% on others. Continue reading...

Politics

6 d. ago Trump threatens crippling attack on the EU that'll leave key industry on its knees

President Donald Trump has reportedly threatened the European Union with a 17 percent tariff on food exports, a move that could cripple that industry.

Events

1 week ago Trump’s tariff war and aid cuts threaten poorest nations’ recovery

Smaller countries face ‘perfect storm’, says UN and WTO trade tsar ahead of key sustainable development summit in Spain

Events

2 w. ago EU leaders mull US tariff response as deadline looms over Trump’s 50% threat

European Commission expects to hear on Thursday whether leaders want quick trade deal or tough reactionEuropean leaders will tell the European Commission later on Thursday whether they want a quick trade deal with the US, or favour a tough response to Donald Trump’s tariff threats.The European Commission president, Ursula von der Leyen, is expected to update EU leaders over dinner on Thursday on trade talks with the US ahead of a looming 9 July deadline. Continue reading...

Politics

2 w. ago ‘Sluggish’ UK business activity picks up as tariff threat eases

Data from S&P Global showed activity across the UK’s private sector increased in June.

Economics