39 h. ago Stock markets rise on signs of Trump tariff retreat; British Steel races to keep furnaces burning – business live

Chinese exports jump as official says ‘the sky won’t fall,’ despite warning from US officials that smartphone and laptop exemption from import tariffs on China will be short-livedMatt Britzman, senior equity analyst at Hargreaves Lansdown, said:Just when it seemed the tariff chaos couldn’t get any worse, tech investors have spent the weekend scrambling to make sense of a whirlwind of confusing - and at times contradictory - messages coming out of the White House. Despite the drama, European markets have taken an easing stance on US tech components as a positive in a broad-based rally this morning, with the FTSE 100 up 1.5% in early trading.This time, it’s chips, smartphones, and other tech components taking centre stage. While there were early signs on Friday night that some broad exemptions might be in play, it turns out tariffs are still very much on the table. But here’s the twist: despite the messy rollout, what’s caught investors’ attention is the news that these products won’t...

Economics

3 d. 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

4 d. ago Tariffs live: Asian markets tumble after Trump admits concerns over ‘costs and problems’

Falling stocks across Asia follow Wall Street sell-off as US president threatens to go ahead with ‘reciprocal’ levies

Economics

4 d. ago Asian markets sink as Trump admits ‘transition cost’ of tariffs – business live

Nikkei plunges 5.4% and other Asian markets reverse many of Thursday’s gains after historic rally following US president’s tariffs reprieveUS stocks fall again after rally following Trump’s shock retreat on tariffsThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

5 d. 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

5 d. 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

5 d. ago The Guardian view on the tariff war pause: the Trump trade shambles is not over | Editorial

The US president blinked first, but this is just a time-out. The threat to the global economy remains real.It was Donald Trump who blinked first. Never forget that. China is unlikely to overlook its importance. A week after launching an all-out global trade war, the US president paused significant parts of it for 90 days. Having insisted that he would stick with the random tariffs he imposed on most trading nations, Mr Trump suddenly decreed that he would reduce most of them to 10%. It was a major humiliation.Yet 10% is still a significant tariff to bear for nations exporting to the US. This is also only a pause until July, not a withdrawal, so the uncertainty remains. And huge tariffs still remain on China (now hiked to 145%), Canada and Mexico (both 25%), as well as on all US imports of steel, aluminium and cars (also 25%). Mr Trump is now substituting a US-world conflict with a US-China one. The two largest economies in the world – which between them have generated around ha...

Politics

5 d. ago Tariffs live: Trump levies on China hit 145% as Starmer told only ‘extraordinary’ deal will let UK escape tariffs

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

Economics

5 d. ago Tariffs live: China hits back at US as stand off against Trump continues amid global market rebound

US president’s shocking decision to now pause hefty duties comes as he ratcheted up trade war with China, hiking tariffs to 125%

Economics

5 d. ago Trump is pushing the world into recession. By learning the lessons of 2008, we can still prevent it | Gordon Brown

As I discovered then, global problems need international responses. By working together, we can protect jobs and living standardsThis is the first in a two part series on the global response to Donald Trump’s tariffsNo more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession. As China and the US decouple, disruptive trade wars are intensifying and threaten to descend into currency wars; import, export, investment and technology bans; and financial fire sales that will destroy millions of jobs worldwide. It seems barely credible that the world is being brought to its knees by one economy, outside of which live 96% of the population, who produce 84% of the world’s manufactured goods. But even though US officials have previously talked of a tariff policy of “escalate to de-escalate”, Donald Trump’s aim is to force manufacturing back to the US, and his 90-day relaxation of some tariffs does not mean he intends to defuse the crisis.On Monday, ...

Politics

5 d. ago Trump is pushing the world towards recession. By learning the lessons of 2008, we can still prevent it | Gordon Brown

As I discovered then, global problems need international responses. By working together, we can protect jobs and living standardsThis is the first in a two part series on the global response to Donald Trump’s tariffsNo more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession. As China and the US decouple, disruptive trade wars are intensifying and threaten to descend into currency wars; import, export, investment and technology bans; and financial fire sales that will destroy millions of jobs worldwide. It seems barely credible that the world is being brought to its knees by one economy, outside of which live 96% of the population, who produce 84% of the world’s manufactured goods. But even though US officials have previously talked of a tariff policy of “escalate to de-escalate”, Donald Trump’s aim is to force manufacturing back to the US, and his 90-day relaxation of some tariffs does not mean he intends to defuse the crisis.On Monday, ...

Politics

5 d. ago China’s new tariffs on US goods take effect as Asian markets rally after Trump’s tariff reversal – business live

China’s 84% retaliatory tariffs on US goods, announced on Wednesday, are due to come into effect on ThursdayRead the latest full reportChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Economics

5 d. ago Tariffs live: Asian markets rebound after Trump pauses most tariffs – but 125% levy on China remains

Trump intensifies trade war with China but softens stance elsewhere after US bond market jitters

Politics

6 d. ago Tariffs live: Asian markets fall as Trump’s 104% levy against China comes into effect

Beijing has vowed to 'fight to the end' in deepening US-China trade war

Economics

6 d. ago Tariffs live: Asian markets fall as Trump confirms China will face 104% levy overnight

Trump’s total new levies climb to 104% on Chinese goods imported into US this year

Economics

6 d. ago Trump tariffs live updates: Asian markets tumble as 104% China tariffs loom; president teases tax on pharma imports

Beijing says it will ‘fight to the end’ as president demands China drop its retaliatory countermeasures

Politics

7 d. ago Wall Street slumps as hopes wane for tariff delays; US says it will implement 104% tariff on China – business live

US stock market swings wildly as investor hopes for concessions and delays on tariffs waxed then waned How ‘liberation day’ rout compares with other notorious stock market crisesWall Street traders on Trump tariffs: ‘Without doubt, we’re hitting a recession’Trump threatens additional 50% tariffs on China over retaliatory leviesSouth Korea’s government has approved Tuesday 3 June as the date for a snap presidential election, following the removal from office of Yoon Suk Yeol last week over his declaration of martial law.The move comes after Yoon’s removal after the country’s constitutional court voted unanimously on Friday to uphold parliament’s decision to impeach him over his ill-fated declaration of martial law in December. Continue reading...

Economics

7 d. ago Wall Street surges 3% as European markets rebound on trade deal hopes – business live

Rallies come as US Treasury secretary says he believes country can reach ‘some good deals’ with trading partnersHow ‘liberation day’ rout compares with other notorious stock market crisesWall Street traders on Trump tariffs: ‘Without doubt, we’re hitting a recession’Trump threatens additional 50% tariffs on China over retaliatory leviesSouth Korea’s government has approved Tuesday 3 June as the date for a snap presidential election, following the removal from office of Yoon Suk Yeol last week over his declaration of martial law.The move comes after Yoon’s removal after the country’s constitutional court voted unanimously on Friday to uphold parliament’s decision to impeach him over his ill-fated declaration of martial law in December. Continue reading...

Economics

7 d. ago Wall St set to rally as European markets rebound despite Trump and China trade threats – business live

Beijing says US threat to escalate tariffs against China is a ‘mistake on top of a mistake’ and amounts to blackmailHow ‘liberation day’ rout compares with other notorious stock market crisesWall Street traders on Trump tariffs: ‘Without doubt, we’re hitting a recession’Trump threatens additional 50% tariffs on China over retaliatory leviesSouth Korea’s government has approved Tuesday 3 June as the date for a snap presidential election, following the removal from office of Yoon Suk Yeol last week over his declaration of martial law.The move comes after Yoon’s removal after the country’s constitutional court voted unanimously on Friday to uphold parliament’s decision to impeach him over his ill-fated declaration of martial law in December. Continue reading...

Politics

7 d. ago Trump tariffs live: Asian stocks rebound and China vows to ‘fight to the end’ after Trump threatens new levy

Trump threatens to impose an extra 50% levy on top of the existing eye-watering tariff on Chinese imports

Politics