4 d. ago China raises tariffs on US goods to 125% as it slams Trump for 'defying basic economic laws and common sense'

China will impose 125% tariffs on U.S. goods from Saturday, up from the 84% previously announced, the finance ministry said on Friday.

Economics

4 d. ago China to restrict US film releases after Trump’s tariff hike

After the US president imposed 125% duties on Chinese imports, Beijing says it will restrict American films opening in its lucrative market Hours after Donald Trump imposed record 125% tariffs on Chinese products entering the US, China has announced it will further curb the number of US films allowed to screen in the country.“The wrong action of the US government to abuse tariffs on China will inevitably further reduce the domestic audience’s favourability towards American films,” the China Film Administration said in a statement on Thursday. “We will follow the market rules, respect the audience’s choice, and moderately reduce the number of American films imported.” Continue reading...

Politics

5 d. ago Trump officials to appeal court ruling lifting White House ban on Associated Press – US politics live

Court filing reported by Reuters shows White House appealing against judge’s order to restore full access to the AP China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?No one wins in a war. But it’...

Politics

5 d. ago I’ve seen many phoney trade wars come and go. This is the real thing | Larry Elliott

This battle between the US and China goes far beyond market turmoil – it has killed off the liberal dream of a borderless world Donald Trump’s decision to impose a 104% tariff on Chinese imports into the US – and China blasting back with 84% – has spooked the financial markets. The response is entirely rational. Over the past few decades, phoney trade wars have been commonplace. Rival nations have squared off against each other, indulged in a bit of sabre-rattling, but eventually agreed on a deal. Headlines that screamed “trade war looms” were quickly replaced by those that read “trade war averted”. This time it’s different. The battle between the US and China prompted by Trump’s tariffs is no pretend trade war. It is the real deal – and it will have real consequences. Tariffs operate as a tax, adding to the costs of doing business and raising prices for consumers. Growth will slow and inflation rates will rise. The global economy was already growing only slowly. As things stand, it...

Events

5 d. ago Democratic governors hit back at Trump order blocking state climate policies – US politics live

Move directing US attorney general to block laws addressing carbon emissions draws criticism China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?No one wins in a war. But it’s proportionality. And ...

Politics

5 d. ago Trump tariffs live: EU votes for retaliatory tariffs on US goods while China imposes fresh 84% levy

Asian markets slump again in Wednesday’s early trade as Trump’s full roster of ‘reciprocal’ tariffs takes effect

Politics

5 d. ago China slaps 84% revenge tariffs on US goods in huge new escalation hours after Trump imposed 104% levy

Xi Jinping's China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, the finance ministry said on Wednesday. 

Politics

6 d. ago Tariffs live: Asian markets fall as Trump confirms China will face 104% levy overnight

Trump’s total new levies climb to 104% on Chinese goods imported into US this year

Economics

6 d. ago Trump confirms 104% tariffs will be imposed on China in massive escalation of trade war

China has vowed to ‘fight to the end’ in a trade war

Politics

6 d. ago Trump confirms 104% tariffs will be imposed on China in escalation of trade war

China has vowed to ‘fight to the end’ in a trade war

Politics

6 d. ago Trump confirms 104% tariffs on Chinese goods as part of unfolding global trade war

Beijing vows to ‘fight to the end’ as president claims ‘many’ countries are seeking a deal with USUS politics – live updatesDonald Trump is poised to unleash his trade war with the world on Wednesday, pressing ahead with a slew of tariffs on the US’s largest trading partners despite fears of widespread economic damage and calls to reconsider.The US president claimed “many” countries were seeking a deal with Washington, as his administration prepared to impose steep tariffs on goods from dozens of markets from Wednesday. Continue reading...

Politics

6 d. ago Trump ‘waiting for China to call’ as deadline to avoid 50% extra tariff passes – US politics live

US president had threatened to impose extra levies unless China withdrew its 34% retaliatory tariffs todayThe European Union still wants to avoid a trade war with the United States despite Donald Trump’s administration’s rejection of the “zero for zero” offer on all industrial goods put forward by Brussels, an EU spokesperson told reporters on Tuesday.White House trade adviser Peter Navarro said on Monday that the European Union needed to lower its non-tariff barriers, including those created by value-added taxes and food safety regulations, if it wanted to reach a deal. Continue reading...

Politics

7 d. ago Trump news at a glance: Wild swings on global markets as Trump threatens further China tariffs

Extreme volatility has plagued global stock markets, with Donald Trump defying stark warnings about economic damage – key US politics stories from 7 April Global stock markets fell catastrophically on Monday following President Trump’s tariff rollout.Despite the economic turmoil, the US president doubled down on his plan, threatening to impose an additional 50% tariff on imports from China on Wednesday, unless the country rescinds its retaliatory tariffs on the United States by Tuesday. Continue reading...

Politics

1 week ago China’s retaliatory tariffs spark fresh turmoil in global financial markets

Fresh turmoil was sparked on Friday by China announcing it will impose a 34% tariff on imports of all US products.

Economics

1 week ago FTSE suffers biggest daily drop since early in the pandemic as Wall Street slides again – business live

Global trade war escalates as Beijing hits back against Donald Trump with new tariffs on US goodsChina retaliates to Trump’s ‘bullying practice’ with 34% tariffs on US importsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right ...

Economics

1 week ago Stock markets plunge as China announces retaliatory 34% tariffs on US goods – business live

Global trade war escalate as Beijing hits back against Donald Trump with new tariffs on US goodsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right to contro...

Economics

1 week ago China imposes a 34% tariff on imports of all U.S. products starting April 10

China has announced it will impose a 34% tariff on imports of all U.S. products beginning April 10

Politics

1 week ago FTSE 100 hits lowest level since January as IMF warns Trump tariffs ‘a significant risk’ to global economy – business live

Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcementGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right to control tariffs, and upset the Constitution’s ...

Events

1 week ago Trump live: Markets see worst day since Covid after new tariffs as president teases $5m gold card featuring his face

President Trump imposes blanket tariffs on all countries, hitting China and Europe hardest

Politics

1 week ago Trump tariffs live: President teases $5m gold card for US entry which features his own face on day that stocks plunge globally

President Trump imposes blanket tariffs on all countries, hitting China and Europe hardest

Politics