2 w. ago Gordon Brown calls for ‘economic coalition of the willing’ to tackle Trump tariffs

Former PM says it is also the moment for the UK to go even further in renewing ties with the EUTrump is pushing the world into recession. By learning the lessons of 2008, we can still prevent it | Gordon BrownGordon Brown has called for an “economic coalition of the willing” to respond to Donald Trump’s tariffs with coordinated economic policies, including a reduction of interest rates.The former prime minister also said it was a moment for the UK to go even further in renewing ties with the EU, suggesting it should mean “collaboration that is even more extensive than removing post-Brexit trade barriers”. Continue reading...

Economics

2 w. ago Bow ties, handkerchiefs and ice cream: How the EU is set to respond to Trump’s tariffs creatively

Brussels is set to target US red states as it looks to respond to Washington’s tariffs in a targeted way

Politics

2 w. ago Chinese plan to BAN Hollywood movies as they respond to Trump tariff 'blackmail': Huge blow could cost films such as Jurassic World: Rebirth and new Mission Impossible sequel half a BILLION dollars

It will put more tariffs on US agricultural products, prevent all US poultry from entering China and ban the import of US movies into the country, a Chinese journalist linked to the Communist party said.

Economics

3 w. ago Corporate America won’t stop Trump’s tariffs. Here’s why | Alex Bronzini

Whether among executives, lobbyists or university trustees, an elite backlash to the Trump administration won’t work. It’s up to working people to resistFew historical analogies exist for Donald Trump’s newly announced tariffs. The investment bank Evercore estimates that the so-called “liberation day” announcement has raised the weighted average US tariff to 29% – its highest rate since 1900. To call it a generational action would be an understatement; my grandmother was born in 1939.These tariffs, if they remain in place, will raise prices, eliminate jobs and shrink retirements. No one will pay for them more dearly than American workers. Yet a shock to capitalism inevitably raises the question of whether, and how, capitalists will respond. Faced with Trump’s tariffs, what will the US’s business class do? Continue reading...

Politics

3 w. ago ‘Fundamentally wrong, brutal and paranoid’: how will the world respond to Donald Trump’s tariffs?

The US president’s sweeping, unprecedented tariffs on countries around the world are threatening to reshape the global economy – so, what exactly happens next?On Thursday evening, towards the end of a long week at a textiles factory on the outskirts of Ho Chi Minh City, Nguyen Thi Dieu and her husband were watching the news. More than 8,700 miles away, US president Donald Trump was announcing sweeping, unprecedented tariffs on every country around the world. Nowhere was safe, even the uninhabited Heard Island and McDonald Islands off the western coast of Australia that, for some unexplained reason, were hit with a 10% tariff.His announcement launched a fierce global trade war and triggered a global market meltdown, including on Trump’s own cherished Wall Street, where hundreds of billions of dollars of stock values evaporated. Continue reading...

Politics

3 w. ago ‘There are no winners’: global companies respond to Trump tariffs

From UK tailors to Australian farmers to Irish whiskey distillers, firms reveal the impact of US measuresDonald Trump’s sweeping tariffs will upend global trade, adding costs and delays to businesses around the world and threatening a recession.The Guardian spoke to eight businesses about the impact. Continue reading...

Politics

3 w. ago Labour tries to seem in control while The Donald unleashes chaos on the world | John Crace

Underneath the measured words you could almost smell the panic as the government scrambled to come up with a plan to respond to Trump’s tariffsWith characteristic humility and good grace Hardly.Shortly after 9pm UK time on Wednesday, the Sun-Bed King made his way to the White House Rose Garden, looking every bit the dishonest bookie as he held up a board with every country’s separate tariff. He might as well have been signposting the odds on a global recession. Continue reading...

Events

3 w. ago Why Starmer’s trade diplomacy may still bear fruit despite 10% tariffs on UK

Retaliation may not be needed as Britain likely to be ‘front of the queue’ in agreeing deal to redraw trade relationshipWhat is the best way to respond to Donald Trump and his sweeping tariffs? Keir Starmer thinks the answer is to tread softly, softly – while engaging in intensive negotiations behind the scenes.There are signs that this strategy is bearing fruit. On Wednesday night, the president announced “reciprocal tariffs on countries throughout the world” including a 10% import tax on UK exports to the US – crucially, lower than the 20% imposed on the EU. The 10% rate was the lowest rate Trump announced and applied to several other countries including Australia, Singapore and Brazil.100 days of Trump’s presidency, with Jonathan Freedland and guests Continue reading...

Politics

3 w. ago Trump’s tariffs: how might Europe respond to unleashing of trade war?

Bloc’s options include retaliating with tariffs on US goods and services and forming closer ties with other countriesDonald Trump is getting ready to impose sweeping and immediate tariffs on all foreign goods, thereby unleashing a trade war and upending the multilateral trading system that the US helped to build after the second world war.Here is how Europe might respond: Continue reading...

Politics