38 h. ago IMF warns that trade tensions could test stability of world economy; Reeves ‘confident’ about US trade deal – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Events

42 h. ago US trade war fears drive UK consumer confidence down to record low; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Economics

3 d. ago Tariffs will raise prices. But the climate crisis is the real inflation risk | Mark Blyth and Nicolò Fraccaroli

As temperatures rise and countries back off their decarbonization efforts, we must confront a reality central banks can’t correctInflation is, at base, a tax on consumption – and it hits the poor the hardest, since they consume more of their incomes and the rich consume less.That’s one reason for concern over Donald Trump’s tariffs, which will disproportionately affect the poor. When the 90-day pause on the tariffs expires, it is reasonable to expect prices to rise, and by a lot.Mark Blyth is a political economist and professor at Brown University. Nicolò Fraccaroli is a visiting scholar at Brown University Continue reading...

Economics

4 d. ago JD Vance and wife Usha arrive in India for first official visit with trade talks on agenda

US vice president JD Vance arrives in India for four-day visit as New Delhi looks to avoid tariffs and negotiate a bilateral trade deal

Politics

7 d. ago Show goes on for Ralph Lauren as fashion reels from Trump tariffs

With the sector bracing itself for a global trade war, investors may find comfort in a trusted pair of handsTwo weeks after Donald Trump announced his “liberation day” tariffs, the fashion industry finds itself in turmoil as it tries to navigate the chaos unleashed.Some are calling it the “tariffpocalypse”, with the sector bracing itself for a global trade war, snarling up supplies and hiking costs, alongside plummeting consumer confidence. Continue reading...

Politics

1 week ago Nato chief in surprise Ukraine visit as US fails to condemn Sumy attack – Europe live

Mark Rutte makes unannounced visit to Odesa and tells Zelenskyy that ‘Nato support is unwavering’The EU has said that “significant joint efforts will be needed” for a successful outcome to trade talks at the end of Donald Trump’s 90-day pause on tariffs.The European Commission, which handles trade policy for the 27 EU member states, was reporting back on a meeting between its lead trade official Maroš Šefčovič and US commerce secretary Howard Lutnick and US trade representative Jamieson Greer in Washington on Monday.The EU will continue to approach these talks in a constructive manner, with a view to identify areas of common interest. It is clear that significant joint efforts will be needed to achieve a successful outcome within the 90-day window.The EU is doing its part. Now it is necessary for the US to define its position. As with every negotiation this must be a two-way street... With both sides bringing something to the table.” Continue reading...

Events

1 week ago China’s Xi Jinping is in Vietnam to figure out how to ‘screw’ the US, says Trump

US president issues scathing view of Chinese counterpart’s motivations amid escalating trade war with Beijing Xi Jinping’s tour of South-east Asia this week is likely intended to “screw” the United States, President Donald Trump has suggested, as the Chinese leader embarks on five-day tour of some nations hardest hit by Trump’s tariffs.China’s president arrived in Hanoi on Monday, where he met Vietnam’s top leader, To Lam, called for stronger trade ties, and signed dozens of cooperation agreements, including on enhancing supply chains. Continue reading...

Politics

1 week ago Marjorie Taylor Greene's huge stock buy the day before Trump's tariff U

Marjorie Taylor Greene has admitted to purchasing between tens and hundreds of thousands of dollars worth of stock the day before and the day of Donald Trump's tariff pause.

Politics

1 week ago Price hike on Shein? How Trump tariffs could shift the US’s love of fast fashion

Trump ended the ‘de-minimis’ rule while launching a trade war with China – which will make retail giants such as Temu more expensive, experts sayAfter a chaotic week of flip-flopping tariff policies, cheap clothes from China are nearly certain to face a steep price hike soon – prompting concern among fast fashion retailers and potentially pushing consumers to look for other alternatives.As part of a package of global tariff policies announced on “liberation day” last week, Donald Trump signed an executive order that ended a duty-free exemption for low-priced goods to enter the US from China and Hong Kong. Known as the “de-minimis” rule, packages under $800 do not qualify for any taxes or tariffs on the goods and are inspected minimally at the border. Continue reading...

Politics

1 week ago Donald Trump is now badly wounded. Europe can seize an advantage | Will Hutton

It’s time to fashion a new global trade order without the USThe game-changing geopolitical event last week was the near collapse of the immense $29tn ­market in US government debt, threatening the stability of the American and global financial system and the safe-haven status of dollar assets.The US president boasted as the collapse unfolded that world leaders were queueing to “kiss his arse”. Twelve hours later, he was in the same humiliatingly weak position as the then British prime minister Liz Truss found herself after her tax-slashing “mini-budget” in 2022. The markets had forced him to pause for 90 days the swingeing range of “reciprocal” tariffs that he announced on what he proclaimed “liberation day”; instead he lowered all of them, bar that on China, to 10%. Continue reading...

Politics

1 week ago Trump rolls back some more tariffs as his ‘Liberation Day’ plans continue to face scrutiny: Live updates

Electronics exemption to Trump’s tariffs are boost for high-tech companies like Apple and Tesla, as well as China, which still remains under 145 percent levy

Politics

1 week ago Donald Trump exempts mobile phones and other tech from tariffs in new economic war move

President Donald Trump has announced a list of tech devices, including smartphones and computers, that will be exempt from reciprocal tariffs imposed on 'Liberation Day'

Economics

2 w. ago ‘There isn’t an hour to lose’ – Harris says tariff pause vital for negotiations

Ireland’s deputy premier said it is important to ‘utilise’ US President Donald Trump’s 90-day tariffs pause.

Politics

2 w. ago ‘The damage is done’: Why Trump’s tariff pause has not stopped the risk of global recession

Even with a 90-day halt on aggressive tariff hikes, leading economists say uncertainty has already caused considerable harm

Events

2 w. ago Emmanuel Macron urges Europe to 'mobilise' and says 'we are right to fight' in response to Trump's 'unfair tariffs'

Macron warned that Europe would still need to 'mobilise' its leverage to protect itself, warning of the 'fragility' of Trump's 90-day 'pause' on harsh tariffs

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 Life in Shanghai, China’s commercial capital, goes on but anti

Chinese companies are relieved Trump’s wider tariffs have been paused but on social media, posts are full of defianceOn Thursday morning in Shanghai, as shoppers filled the luxury malls and delivery drivers whizzed around the winding streets at breakneck speed, financiers breathed a cautious sigh of relief. Overnight, US President Donald Trump had reversed course, announcing a 90-day pause on his so-called “reciprocal tariffs” of up to 50% for dozens of countries. Although China got no such reprieve – instead, the levy on Chinese goods was increased to 145% – the temporary return of normal trade channels showed Chinese businesspeople that all was not lost.Trump’s announcement of punitive tariffs on countries across south-east Asia had risked closing off the routes that Chinese companies have been using since his first term in office to circumvent his levies. Continue reading...

Politics

2 w. ago Tariffs live: Trump admits ‘costs’ but warns higher levies will return if countries can’t strike deals with US

European stock markets rebound slightly after Trump makes humiliating U-turn on tariffs for most countries

Events

2 w. ago Tariffs live: Trump warns higher tariffs will return if countries can’t strike deals with US in 90 days

European stock markets rebound slightly after Trump makes humiliating U-turn on tariffs for most countries

Events

2 w. ago Trump claims TikTok deal still on the table as China tariffs threaten to derail agreement

Trump announced a 90-day pause on all reciprocal tariffs this week, except for those placed on China

Economics