7 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

10 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

10 h. ago Stock markets continue to fall as fears over Trump’s trade war dragging down the economy fuel sell

Friday’s stock market comes after a historically bad day as investors react to Trump’s tariff plan

Politics

12 h. ago Stock markets expected to continue plunge as investors fear impact of Trump’s tariffs and China’s response

Friday’s stock market comes after a historically bad day as investors react to Trump’s tariff plan

Economics

16 h. ago IMF warns of ‘significant risk’ to global economy from Trump tariffs as markets plunge

Fund boss Kristalina Georgieva says it is important that US and trading partners avoid escalating trade warBusiness live – latest updatesThe International Monetary Fund (IMF) has warned that Donald Trump’s implementation of swingeing tariffs poses a “significant risk” to the global economy, as stock markets were hit by a punishing worldwide sell-off by investors.Kristalina Georgieva, the managing director of the IMF, said it was important that the US and its trading partners avoided further escalating Trump’s trade war, while stock markets plunged on Friday as China retaliated against the tariffs. Continue reading...

Events

2 w. ago Tesla stake is no longer Elon Musk’s most valuable asset amid stock market sell

SpaceX, Musk’s private rockets and satellites business, is now largest asset for the first time in five yearsUS politics live – latest updatesElon Musk’s vast stake in Tesla is no longer his most valuable asset as the electric car company continues to endure a sharp stock market sell-off.Musk’s stake in SpaceX, his private rockets and satellites business, is now the billionaire tycoon’s largest asset for the first time in five years, according to Forbes, which still pegs his net worth at $323bn – more than anyone else in the world. Continue reading...

Politics

3 w. ago JD Vance claims the economy is 'quite strong' while accusing Europe of not treating US like an ally

Vice President JD Vance defended the strength of the American economy on Thursday, even as President Donald Trump's tariffs continue rocking the stock market.

Politics

3 w. ago Trump's tariffs have caused the 7th fastest stock market slump on record... leaving 401(K)s ravaged

Wall Street´s sell-off hit a new low Thursday after President Donald Trump´s escalating trade war dragged the S&P 500 more than 10 percent below its record -  set just last month.

Politics

3 w. ago S&P stock market suffers first ‘correction’ since 2023 having lost 10% of its record

The sell-off on Wall Street struck a new low Thursday following the expanding trade war pushed by President Donald Trump, dragging the S&P 500 more than 10 percent below the record set last month.

Politics

3 w. ago US stocks register heavy falls as White House tries to talk up Trump tariffs

Dow, S&P 500 and Nasdaq all down by at least 2% and Tesla shares fall 15% for worst day since September 2020The US stock market continued to drop on Monday as the White House denied that Donald Trump’s trade policies were causing lasting chaos within the economy.The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% as investors sold shares in the so-called “magnificent seven” – Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia and Tesla. Tesla’s shares had their worst day since September 2020, falling 15%. Continue reading...

Politics

3 w. ago Global stock markets register heavy falls as White House tries to talk up Trump tariffs

Dow, S&P 500, Nasdaq and Nikkei all down by at least 2% and Tesla shares fall 15% for worst day since September 2020Global stock markets have continued to fall amid fears that a wide-ranging trade war could dent US economic growth and result in a recession, even as the White House has denied that Trump’s trade policies are causing lasting chaos.The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% on Monday as investors sold shares in the so-called “magnificent seven” – Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia and Tesla. Tesla’s shares had their worst day since September 2020, falling 15%. Continue reading...

Politics

3 w. ago Trade tariffs are the new normal – and that’s unlikely to be positive for Australia | Sally Auld

US policy changes won’t have a large direct effect on the Australian economy but a global trade war can only be a drag on growthGet our breaking news email, free app or daily news podcastUS tariff policy has dominated headlines in recent weeks. In many respects, this shouldn’t come as a surprise – President Trump has been clear in his belief in tariffs as an effective policy tool. Indeed, the new US administration views tariffs as not only a means of raising tax revenue but also as a negotiating tool and a lever to ameliorate so-called trade imbalances. So far, we have seen both the threat of tariffs and the use of tariffs to achieve all these objectives.Despite all the headlines, Australia hasn’t really been subject to large changes in tariffs on its exports to the US. The US has, however, announced a 25% tariff on all steel and aluminium imports. If Australia is not successful in obtaining an exemption, Australian steel and aluminium exports to the US will be subject to new tariff...

Politics