83 m. ago China grants some tariff exemptions for US imports as trade war bites

Sign of relief for foreign businesses comes as Donald Trump insists talks are under way to reduce levies

Events

90 m. ago Rachel Reeves will meet US counterpart TODAY as figures show a QUARTER of UK car exports go to America

Chancellor Rachel Reeves will sit down with Treasury Secretary Scott Bessent in Washington, where they have been both attending an IMF summit.

Politics

1 hour ago Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products Business live – latest updatesXi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.Friday’s meeting of the politburo was convened to discuss China’s economic situation, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment, and Donald Trump’s tariffs on all Chinese exports. Continue reading...

Events

3 h. ago China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

Rolling coverage of the latest economic and financial newsRachel Reeves used a brief speech to US investors at the British ambassador’s lavish residence in Washington last night, to acknowledge some of the downsides of globalisation, in a nod to Donald Trump’s stance.As she prepares to meet Treasury secretary Scott Bessent today, Reeves said China’s entry into the global trading system 25 years ago had created “huge benefits in terms of cheaper goods, more innovation and more opportunities to trade”.“They voted for change because they didn’t think that the economy worked well enough for them and their families. They saw the erosion of good jobs that paid a decent wage. They saw industries that once powered their towns disappear. And as elected politicians we have to respond to that”.“Some may say that under this very consequential president we have at the moment, this is a rollercoaster period and therefore a challenge to us all. But we would say that a rollercoaster is fine, as lon...

Economics

12 h. ago Billionaire Republican megadonor claims Trump is ‘eroding’ America’s brand with trade war

Ken Griffin donated more than $100m to the GOP during the 2024 election cycle

Politics

13 h. ago West ‘cannot be agnostic or naive’ about where goods are made, Reeves tells IMF

The Chancellor was speaking ahead of a meeting with US Treasury secretary Scott Bessent on Friday.

Politics

13 h. ago Reeves rejects parts of Trump’s economic agenda before talks with Bessent

UK chancellor says global stability depends on lower trade barriers ahead of meeting US Treasury secretary

Politics

14 h. ago Trump’s polling plunge continues as he loses ground on immigration and his trade war

ANALYSIS: President’s two biggest issues are now the areas where he’s losing the most support. That’s a problem for Republicans in Congress, writes John Bowden

Politics

19 h. ago Airlines, rattled by trade war and spending pullback, continue to cut flights, pull outlooks

Major U.S. airlines are reducing their flight schedules and revising or withdrawing their profit outlooks for the year due to less domestic travel demand as sentiment about the national and global economies sours

Events

20 h. ago Trump keeps claiming he’s working on a deal with China. Beijing says that it is all in his mind

‘Any claims about the progress of China-U.S. trade negotiations are groundless as trying to catch the wind and have no factual basis,’ a spokesperson for China’s Ministry of Commerce said

Economics

22 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

23 h. ago China tells US to ‘cancel all unilateral tariffs’ if it wants talks

Beijing says claims it is nearing a deal with Washington to resolve the trade war are ‘fake news’

Politics

25 h. ago The key reasons China holds the edge over the US in Trump’s trade war

Despite the slight change in tone from the White House, China says it will not be bullied into a deal

Politics

26 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

28 h. ago Kenyan president vows closer ties to China during visit amid Trump's trade war

Kenyan President William Ruto pledged to build closer ties with China on Thursday, a day after saying a global trade war triggered by Washington could deal a “death blow” to the current world order

Politics

28 h. ago US trade war will hurt UK growth, Bank of England governor warns; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsACEA’s latest European car sales report shows a continued decline in demand for fossil fuel-powered vehicles.While new battery-electric car sales grew by 23.9% in the first three months of 2025, to 412,997 units, petrol car registrations saw a significant decline of 20.6%, with all major markets showing decreases. Continue reading...

Economics

30 h. ago Corporate America puts Wall Street on alert over damage from trade war

Executives use earnings calls to lay out costs and supply chain impacts from Donald Trump’s tariffs

Events

36 h. ago Elon Musk in White House 'WWE' style shouting match before stepping back from DOGE

Elon Musk has reportedly had a bust up with another key figure in the Trump administration, US Treasury Secretary Scott Bessent, at the White House where witnesses described the pair going "chest-to-chest"

Events

36 h. ago Here’s what stopped Trump in his quest to oust Fed chair Jerome Powell

The Trump administration has also signaled its trade war with China may be letting up soon

Politics

37 h. ago Rachel Reeves in US for trade showdown talks in hopes of saving ailing economy

Rachel Reeves will meet with US counterpart Treasury Secretary Scott Bessent in the hopes of seeking the best deal possible for Britain amid crippling US trade tariffs

Economics