8 h. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

11 h. ago Markets tank as Trump moves to impose crippling 50% tariff on Europe

Donald Trump is threatening new crippling tariffs on the European Union after trade negotiations have gone south.

Politics

12 h. ago Ukraine’s Zelenskyy confirms major prisoner swap with Russia – Europe live

The first stage of a major prison swap between Ukraine and Russia has taken place in Turkey, with 390 people released todayFor more coverage of Trump’s tariffs threats – which also include a warning that Apple must pay a 25% tariff unless it manufactures its iPhones in the US – follow our business live blog here:US president Donald Trump has just called the EU “very difficult to deal with,” lamenting the bloc’s “powerful Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American Companies, and more” (original capitalisation!).“Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. Continue reading...

Events

66 h. ago German finance minister calls for swift resolution to Trump tariff wars as G7 finance ministers meet in Canada – Europe live

Finance ministers are meeting in Banff, Alberta to discuss Ukraine and Trump’s trade policy Finance ministers of the world’s seven largest economies – G7 – are meeting in Banff, Alberta in Canada to discuss their ideas on Ukraine and concerns about disruptions resulting from Donald Trump’s unorthodox trade policy.Before the meeting, German finance minister Lars Klingbeil warned that trade disputes with the US should be resolved as soon as possible, as he stressed they were a burden on the economy and job security. Continue reading...

Politics

1 week ago Trump seeks to lower US drugs prices with tariff threat to Europe

White House sets out plans for price targets and eliminating ‘middlemen’ in executive order

Events

1 week ago White House pushes lower US drugs prices with tariff threat to Europe

Trump sets out plans for price targets and eliminating ‘middlemen’ in executive order

Events

1 week ago Rush of copper to US because of tariff threat creates shortages in continental Europe

Region’s spot market hit by lack of the red metal for immediate delivery, pushing up premiums on top of benchmark LME prices

Events

2 w. ago German stocks hit record high as trade optimism buoys markets

Dax index becomes first major European benchmark to recover all losses sparked by US tariff threats

Events

2 w. ago German stocks hit record high as trade optimism swirls in markets

Dax index becomes first major European benchmark to recover all losses sparked by US tariff threats

Events