2 h. ago Ministers focused on US trade deal, despite signal tariffs will go no lower

Kevin Hassett, a senior economic adviser to Donald Trump, suggested the blanket 10% tariff rate most countries now face was likely to be a ‘baseline’.

Politics

3 h. ago 'Wolf of Wall Street' gives his view on whether Trump is committing insider trading with tariff trade war

Stocks soared on Trump's tariffs pause with the S&P500 closing up 9.5%, while the market gained back about $4 trillion, or 70%, of the value it had lost over the previous four trading days

Politics

3 h. ago UK economy grows faster than expected in February as Trump tariff threat looms

The figures are a positive for Labour, but economists said growth will likely be hampered by the US trade war in the coming months.

Politics

4 h. ago FTSE 100 opens higher as Macron warns Trump tariff suspension only a ‘fragile pause’ – business live

European markets open following a mixed picture across Asia with the Nikkei showing another fallUS stocks fall again after rally following Trump’s shock retreat on tariffsLife in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardeningThe 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...

Events

5 h. ago UK economy far exceeds forecasts to grow 0.5% in boost to Rachel Reeves

February GDP rise bigger than forecast but impact from Donald Trump’s tariff war yet to comeBusiness live – latest updatesThe UK economy unexpectedly expanded by 0.5% in February, figures show, in a boost for Rachel Reeves before an expected downturn triggered by Donald Trump’s tariff war.Reversing a modest fall in January of 0.1%, the increase in gross domestic product in February was five times larger than the 0.1% growth that a poll of City economists had forecast. Continue reading...

Politics

5 h. ago Donald Trump's tariff wars feared to send Adidas Samba prices soaring in UK

Adidas Sambas trainers are set to increase after President Trump's brand new tariffs regulations where some of Brits favourite trainers are set to rise as the UK take a hit

Politics

6 h. ago Trump tariff suspension only a ‘fragile pause’, says Macron, as gold soars amid market jitters – business live

Nikkei plunges 5.4% but other Asian markets see mixed results as some reverse many of historic rally’s gains after US president’s tariffs reprieveUS stocks fall again after rally following Trump’s shock retreat on tariffsLife in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardeningThe 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

7 h. ago The big lesson for Europe? Trump backed down under pressure | Alexander Hurst

The EU neither ‘kissed ass’ nor unleashed its most powerful trade weapon. Now it must provide the world with an alternative to US chaosMy condolences to everyone who spent days trying to play 5D chess with Donald Trump’s market-exploding tariff mess. Where Trump is involved, there is a cloud of malevolent chaos, and there is grift amid the chaos. What grandmasters there are to be found are almost certainly grandmasters of grift.When markets dump $10tn in three days and then gain trillions back in a single afternoon on the erratic decisions of one deeply corrupt person, you can be sure that a small number of people have made immense sums of money out of that volatility. Were the people responsible for abnormal spikes buying into the markets (including call options on various indexes and exchange-traded funds) on Wednesday morning – and again, 20 minutes before the tariff announcement went public – extraordinarily lucky? Were they in the right Signal group? Or were they just simply fo...

Politics

11 h. ago Trump admits ‘transition cost’ of tariffs as global markets sink again – business live

US stocks tumble once more after historic rally following US president’s shock retreat on ‘reciprocal’ tariffsUS stocks fall again after rally following Trump’s shock retreat on tariffsIn the UK, shoppers stayed away from the high street in March, a situation retailers said could worsen if the economic gloom caused by Donald Trump’s tariff war hits consumer confidence.Footfall fell 5% in March to extend a downturn in February that retailers said could be attributed to a recent rise in inflation and pressure on pay packets since a brief revival during the January sales.Global uncertainties resulting from tariffs and a potential economic slowdown could reduce the appetite for shopping trips in the coming months. Continue reading...

Economics

12 h. ago UK would need ‘extraordinary’ deal to go below 10% tariff, Trump adviser says

Sir Keir Starmer’s Government still hopes an economic deal with America can be reached.

Economics

14 h. ago Toy company CEO issues dire warning about Christmas amid Trump tariff hikes

The U.S. company says 80 percent of its toys are manufactured in China

Events

14 h. ago Trump has slowed his global tariff plan. Here’s what happens next and the impact on your wallet

The president caught the world – and most of his administration – off guard with his sudden announcement that he was pausing tariffs

Politics

16 h. ago Trump called a cabinet meeting after walking back his tariff plans. It might as well have been held in Moscow

ANALYSIS: Trump’s cabinet meetings have turned into North Korean-style propaganda shows, writes Richard Hall

Politics

16 h. ago Prada buys Versace in €1.25bn deal uniting Italy’s biggest fashion brands

Prada has secured Versace at a €180m discount amid market turmoil and after months of speculationPrada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump’s tariff policies. Continue reading...

Economics

16 h. ago Donald Trump has done more to help China 'than any other living human being', Professor Steve Tsang tells the Mail's 'Apocalypse Now?' podcast after tariff pullback

Trump's trade war with China escalated on Wednesday, with America's effective tariff rate against the nation now standing at a record 125%.

Politics

17 h. ago Apple flew out 600 tons of iPhones from India to the US to ‘beat’ Trump’s tariff deadline

Tech giant reportedly chartered flights to relocate about 1.5 million phones

Politics

17 h. ago Trump's tariff war affects us all – this is how much your iPhone will cost now

Trump’s tariff war means everyone’s iPhone prices will skyrocket by hundreds of pounds as most of the devices are made in China - which has been hit by soaring tariffs

Politics

17 h. 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

17 h. ago Inside the Oval Office where phone calls during Fox News commercials and desperate world leaders changed Trump’s mind on tariff plan

The president said he was acting ‘instinctively’ after announcing the surprise 180 on Wednesday. However multiple sources said that the build up to the decision was drawn out over a number of days

Politics

17 h. ago Prada’s €1.25bn Versace takeover: a new era for Italian luxury

Prada has secured Versace at a €200m discount amid market turmoil, uniting two Italian fashion powerhousesPrada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump’s tariff policies. Continue reading...

Politics