3 h. ago Flattery gets Starmer somewhere as The Donald stays awake to toot tariff deal | John Crace

Sycophancy stops Trump from dozing off as PM and co hail victory – or at least getting what they could getThree days ago, Donald Trump promised an announcement that would be very possibly the greatest announcement in the whole history of announcements. Come Thursday morning, he said the US and the UK had reached a full and comprehensive trade deal.I guess a lot depends on what you mean by the words “greatest announcement” and “full and comprehensive”. As details of the deal began to emerge, it rather looked as if the UK had managed to negotiate a worse deal with the US than we had even two months ago. One that was hardly transformative. Just reversing some of the damage that had been done to the UK by the US starting a global trade war. Tariffs as a protection racket. Continue reading...

Economics

8 h. ago Trump revealing ‘full and comprehensive’ trade deal with UK in first major announcement since starting global trade war

Thursday’s announcement will mark the first major global trade deal since Trump unveiled sweeping tariffs in April

Politics

10 h. ago Interest rates live updates: Bank of England slashes interest rates to 4.25% in boost to homeowners

It marks lowest level for two years as central bank warns escalating global trade war will drag on growth over next three years

Society

42 h. ago China chides US over ‘serious negative impact’ of Trump tariffs as trade talks set to begin

China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent in Switzerland between 9 and 12 MayChina has vowed to “safeguard international fairness and justice” in upcoming talks with the United States in Switzerland, the first meeting between the two countries to discuss trade war that has roiled the global economy since US president Donald Trump unveiled sweeping tariffs last month.China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent on the sidelines of meetings in Switzerland between 9 and 12 May. US trade representative Jamieson Greer will also attend. Continue reading...

Politics

2 d. ago Companies are leaving more jobs unfilled as economic worries hit pause on corporate spending

Trump’s global trade war continues to cause concern about a potential recession

Economics

3 d. ago The Guardian view on Trump’s shock therapy: warehouse and transport workers are the first victims of a class war | Editorial

Behind the slogans and tariffs lies a calculated strategy – fuelled by elite interests, eroding labour rights and stoking global recessionThe White House, eager to win a trade war it barely understands, has yanked the emergency brake on China-US trade without checking who’s inside the vehicle. Donald Trump’s early April trade decree has taken a month to hit the economy – that’s how long Chinese containers need to reach Los Angeles. And on cue, US pacific ports registered a 45% drop in container bookings this week from China. When warehouses fall quiet and trucks idle in California, the silence will creep eastward. Unemployment will surely tick upwards.Even if Washington reverses course by the end of May, and Beijing plays nice, the best-case scenario is delayed damage. Some goods are being rerouted to avoid charges, but you can’t reboot global logistics overnight. This isn’t strategic decoupling – it’s economic self-harm. By the time the Trump administration notices, it will be too ...

Events

3 d. ago Bank of England poised to cut rates as fears grow over impact of Trump tariffs

Markets suggest quarter-point reduction to 4.25% is almost certain but some economists say Bank must go furtherThe Bank of England is poised to cut interest rates on Thursday amid growing concerns over the hit to UK jobs and growth from Donald Trump’s increasingly erratic global trade war.In the Bank’s first intervention since the US president’s “liberation day” tariff policy announcement sent shock waves through the world economy, Threadneedle Street is expected to reduce its key base rate from the current level of 4.5%. Continue reading...

Politics

4 d. ago 'I missed my son's 12th birthday to save Britain's steel industry'

The Manchester Evening News speaks to the man at the centre of the race to save British Steel and deal with Trump's tariffs and a global trade war

Politics

6 d. ago America says it’s Trump’s economy (despite his constant blaming of Biden)

Donald Trump has consistently blamed Joe Biden for the turbulent stock market after the president triggered a global trade war with his tariffs

Politics

8 d. ago Barclays profits surge 19 per cent as bank braces itself for global trade war

The UK banking giant increased provisions for loans expected to turn sour, largely driven by £74 million put by for ‘elevated US macroeconomic uncertainty’

Economics

1 week ago Voices: Poll of the day: Do you still believe in the UK–US ‘special relationship’?

Have your say: Is the UK–US “special relationship” still alive, or has Trump’s trade war and shifting global politics turned it into a thing of the past?

Politics

2 w. 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

2 w. ago Risks to global financial stability surging after Trump tariffs, warns IMF

World body says ‘sharp repricing of risks’ possible amid growing concern over role of ‘nonbank’ lendersIMF warns of ‘major negative shock’ from Trump’s tariffsEditorial: Donald Trump could cost the world $1tnThe global financial system is coming under increasing strain as Donald Trump’s trade war rocks markets, the International Monetary Fund has warned.“Global financial stability risks have increased significantly,” the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. Continue reading...

Events

2 w. ago Peter Navarro: the economist who has outsmarted Elon Musk and has the ear of Donald Trump

US president’s chief trade adviser is intellectual driving force behind global tariffs and trade war with ChinaElon Musk called him “dumber than a sack of bricks” but, in the raw contest for political power, Peter Navarro has outsmarted the billionaire.The tumult in global trade shows that for now it is the 75-year-old economist, not Musk, who has Donald Trump’s ear in the Oval Office. Continue reading...

Politics

2 w. ago Secondhand stores are poised to benefit if US tariffs drive up new clothing costs

Stores selling secondhand clothing, shoes and accessories are poised to benefit from the Trump administration’s trade war even as global businesses race to avoid potential damage

Economics

2 w. ago Show goes on for Ralph Lauren as fashion reels from Trump tariffs

With the sector bracing itself for a global trade war, investors may find comfort in a trusted pair of handsTwo weeks after Donald Trump announced his “liberation day” tariffs, the fashion industry finds itself in turmoil as it tries to navigate the chaos unleashed.Some are calling it the “tariffpocalypse”, with the sector bracing itself for a global trade war, snarling up supplies and hiking costs, alongside plummeting consumer confidence. Continue reading...

Politics

3 w. ago Why British businesses won’t abandon manufacturers in China despite Trump tariffs

China has vowed to ‘fight to the end’ in a trade war with the US which threatens to up-end global supply chains

Economics

3 w. ago Why British businesses say they won’t abandon their manufacturers in China despite Trump tariffs

China has vowed to “fight to the end” in a trade war with the US which threatens to up-end global supply chains

Economics

3 w. ago UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports

Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade warThe UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years. Continue reading...

Politics

3 w. ago Musk thinks Trump’s pal Navarro is a ‘moron’. Who are we supposed to root for here? | Dave Schilling

Tariffs have driven a wedge between Trump aides in an administration that hates expertise. I suppose boys will be boysI would like to dispel some rumors right up front. One, I did not receive a PhD in business from Harvard Business School. Hopefully this doesn’t make you think less of me, but I felt it necessary to be honest. Second, I did not even attend Harvard. I thought about it once; hopefully, thinking about something isn’t illegal yet.My point is that I am no elitist snob begging for your subservience. I’m a simple man, just trying to salvage the last of my meager wealth during the great trade war of 2025. I know absolutely nothing about global economic policy. As such, I must be worth listening to.Dave Schilling is a Los Angeles-based writer and humorist Continue reading...

Politics