46 m. ago From oil to gold: How Trump’s ‘Liberation Day’ shook the world in four charts

The impacts of Trump’s tariffs have hit economies across the world

Politics

1 hour 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

2 h. 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

5 h. ago From oil to Bitcoin: How Trump’s ‘Liberation Day’ shook the world in four charts

The impacts of Trump’s tariffs have hit economies across the world

Politics

6 h. ago China vows to 'fight to the end' over Trump's tariffs and accuses the US of 'making mistake on top of mistake' with its 'bullying'

China, the world's second-largest economy, responded to Trump's 'Liberation Day' tariffs last week by imposing 34% rates on US imports, directly mirroring the US President's move

Politics

23 h. ago UK drivers handed boost as cost of petrol set to fall by 6p a litre within weeks

It's another consequence of President Trump's 'liberation day' tariffs

Politics

28 h. ago Trump's tariffs could TRIPLE the price of an iPhone as Apple loses 10% of its value in one day and faces a customer boycott

The cost of a 256GB iPhone 16 Pro could soar from $1,100 (£850) to as much as $3,500 (£2,715), experts warned after the President Donald Trump's 'Liberation Day' crackdown last week.

Economics

30 h. 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

31 h. ago FTSE 100 Live 07 April: Stock market rout deepens, index down 5% and S&P 500 set for bear market

The global stock market rout triggered by Donald Trump’s “Liberation Day” tariffs worsened today.

Politics

32 h. ago FTSE 100 Live 07 April: Index slides 6% as stock market rout continues, S&P 500 seen in bear market

The global stock market rout triggered by Donald Trump’s “Liberation Day” tariffs worsened today.

Politics

2 d. ago Ted Cruz warns of midterm ‘bloodbath’ if Trump tariffs cause a recession

Texas senator’s comments another sign of Republican unease over ‘reciprocal tariffs’ and stock market plungeTed Cruz, the US senator from Texas, has warned that his fellow Republicans risk a “bloodbath” in the 2026 midterm elections if Donald Trump’s “liberation day” tariffs cause a recession.Cruz also warned that the president’s tariffs, if they stay in place for long and are met by global retaliation on American goods, could trigger a full-blown trade war that “would destroy jobs here at home, and do real damage to the US economy”. Continue reading...

Events

3 d. ago Trump’s ‘Liberation Day’ could mean recession in the US and pain worldwide | Steven Greenhouse

The US president’s tariffs are vengeful and impetuous – and will have immense costs with no clear goalWith the huge and painful tariffs that Donald Trump announced on Thursday, “Tariff Man” is acting like a paranoid 12-year-old bully who is convinced that everyone has wronged him, and he wants revenge. But the president’s instrument of revenge – massive tariffs – is going to do serious damage to the US and global economies. Stock market investors are convinced that’s the case, with Wall Street and world stock markets losing trillions of dollars in value in recent days as a result of Trump’s obsession.The president has escalated his risky, vengeful trade war even though the US economy was in strong shape when he took office – the jobless rate was just 4.1%, inflation was below 3% and US economic growth was the strongest in the industrial world, with its stock market at record levels. So it’s unclear whether the US economy needed the shock treatment that Trump is inflicting. The price...

Politics

3 d. ago It could set the industry back 50 years: fashion braces for impact of Trump tariffs

From farmers to designers, the entire supply chain will be hit – but it is unclear what duties apply to a finished productFirst it was steel producers. Then automobiles. Now the fashion industry has been left reeling from Donald Trump’s announcement on Wednesday that he was imposing tariffs on more than 180 countries including severe levies aimed at some of fashion’s biggest manufacturing regions.Trump’s “liberation day” tariffs included a 10% duty on all imports to the US but “worst offender” countries – those with whom America has bigger trade deficits – face a higher rate. Several of these are key to fashion’s supply chains. China, where everyone from Prada to Zara outsource production, faces a 54% duty. Vietnam, where more than half of Nike’s footwear was produced last year, will be subject to a 46% tariff. Pakistan, a key manufacturer of denim items, will be hit with a 29% duty. Bangladesh, where garment manufacturing makes up to 80% of its total exports, will be subjected to 3...

Politics

3 d. ago Let's take a breath: Definitely not 'happy' Starmer embarks on diplomatic mission to talk allies out of any big retaliations over tariffs

The Prime Minister last night began a flurry of diplomatic calls designed to coordinate responses to President Trump's 'Liberation Day' announcement on tariffs

Politics

3 d. ago ALEX BRUMMER: Donald Trump's Liberation Day leaves its scars

The Wall Street Journal compares 'Liberation Day' to Richard Nixon's decision to blow up the Bretton Woods system of fixed exchange rates in 1971. The Economist calls it 'Ruination Day'.

Politics

3 d. ago Trump tariffs live: Global stocks sink and FTSE sees biggest drop since Covid pandemic on second day of market turmoil

Beijing hits back after president’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in biggest one-day loss since March 2020

Politics

3 d. ago The Guardian view on Donald Trump’s tariff ultimatum: tribute for access to America’s empire | Editorial

As the White House retools US imperialism with import duties, others must resist dependency – deepening regional ties and reducing exposure to chokepointsWhen Donald Trump stood before union auto workers in the Rose Garden he declared “Liberation Day”, promising to stand up for Main Street. Whether that pledge will be fulfilled is moot. He will declare victory either way. What the US president offered was not just an economic programme, but an imperial one.Mr Trump’s logic, if it exists, lies in the 397-page report on “foreign trade barriers” he brandished on Wednesday. Its message is brutally simple: you may sell your goods to Walmart shoppers, but only if you let US cloud services hoover up your data, US media flood your screens and US tech monopolies operate on their terms – not yours. TikTok is the test case for Trump’s platform nationalism: only US firms may mine data, reap profits and rule the digital empire. Continue reading...

Politics

3 d. ago Trump tariffs live: FTSE sees biggest daily drop since Covid after China hits US with huge 34% tariff

Beijing hits back after president’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in biggest one-day loss since March 2020

Politics

4 d. ago From Nike to Apple: which US brands could be hit hardest by Trump tariffs and what’s at stake?

Companies with suppliers in Asian countries are likely to have to raise prices after the US president’s measuresBusiness live – latest updatesDonald Trump’s “liberation day” tariff war has so far wiped trillions off the market value of publicly traded companies, with the sweeping border taxes of up to 50% poised to wreak havoc on businesses across the world.US-based global brands from Nike to Apple have suffered some of the heaviest falls in share price and market value, as investors react to fears of price increases and a potential slowdown in consumer spending. Here, we examine some of the most exposed industries and brands. Continue reading...

Politics

4 d. ago Trump tariffs live: China hits US with huge 34% tariff after FTSE drops in market meltdown

China hits back with huge tariffs after Trump’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in its biggest one-day loss since March 2020

Politics