95 m. ago Department of Education braced amid reports of imminent Trump order to close it – US politics live

Trump order to Linda McMahon expected to claim that department has failed ‘children, teachers and families’, ABC News reportsThe Congressional Budget Office (CBO) has said that Republicans cannot meet their own budget target to pass Donald Trump’s legislative priorities without imposing cuts on Medicare or Medicaid.The House Republican budget blueprint envisions the House Energy and Commerce Committee will cut spending by $880bn, however, when its spending on Medicare and Medicaid are excluded from its spend, it only has $581bn of expenditure with which to make the savings.This letter from CBO confirms what we’ve been saying all along: the math doesn’t work without devastating Medicaid cuts. Republicans know their spin is a lie, and the truth is they have no problem taking health care away from millions of Americans so that the rich can get richer. Continue reading...

Politics

2 h. ago UK construction in biggest downturn since 2020; recruiters warn of tough business conditions – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling reverse earlier gainsThe eurozone saw the biggest slump in construction in three months in February, according to a separate survey.There was a marked reduction in new orders while cost pressures eased, according to a monthly report from Hamburg Commercial Bank.Unpleasant signals come from the Eurozone construction sector as the HCOB eurozone construction PMI in February shows deepening weakness that does not seem likely to fade soon. The recession now encompasses all three major Eurozone economies: Germany, France, and Italy.Although the ECB, particularly executive board member Isabel Schnabel, has signalled a pause in the rate-cutting phase to await further dynamics, the construction sector makes it clear that a delay in rate cuts in interest-sensitive areas can be fatal.Sharply declining order books rippled through the UK construction sector in February, which led to accele...

Events

4 h. ago Pound rises above $1.29 as Trump fears hit dollar; Poundland chain up for sale – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling hit four-month highsThe British Chambers of Commerce (BCC) is predicting “a long and challenging year for UK businesses”. It has become more gloomy about the growth outlook for the UK and said firms will struggle to invest as they deal with a raft of rising cost pressures.This is going to be a long and challenging year for UK businesses. The BCC’s forecast shows an economy struggling without the secure foundations to kickstart business investment.Inflation will continue to be stubborn this year forcing the Bank of England to keep interest rates relatively high. Global uncertainties will add further dark clouds to the economic climate. Continue reading...

Economics

13 h. ago US 'prepared' to go to war with China as Donald Trump Defense Sec Hegseth makes chilling threat

Donald Trump has started trade wars with some of his closest allies as well as with Beijing arguing Canada, Mexico and China are not doing enough to stem the flow of fentanyl into the country

Events

17 h. ago Trump temporarily spares carmakers from US tariffs on goods from Canada and Mexico

After a call with top executives at GM, Ford and Stellantis, president approves one-month exemption from tariffsUS politics live – latest updatesDonald Trump has temporarily spared carmakers from sweeping US tariffs on goods from Canada and Mexico, one day after an economic strike on the US’s two biggest trading partners sparked warnings of widespread price increases and disruption.The US president extended his aggressive trade strategy at midnight on Tuesday by targeting the country’s two closest neighbors with duties of 25%. Continue reading...

Politics

17 h. ago Trump temporarily spares carmakers from US tariffs on Canada and Mexico

After a call with top executives at GM, Ford and Stellantis, president approves one-month exemption from tariffsUS politics live – latest updatesDonald Trump has temporarily spared carmakers from sweeping US tariffs on goods from Canada and Mexico, one day after an economic strike on the US’s two biggest trading partners sparked warnings of widespread price increases and disruption.The US president extended his aggressive trade strategy at midnight on Tuesday by targeting the country’s two closest neighbors with duties of 25%. Continue reading...

Politics

18 h. ago Trump tariffs live updates: White House expected to announce relief for some goods from Mexico and Canada

President may give tariff relief to goods following rules of origin under U.S.-Mexico-Canada Agreement on trade, which would likely cover auto sector

Politics

22 h. ago Hopes of US golden age fade as investors start to worry about ‘Trumpcession’ risk

Tariffs are dampening consumer confidence and fears of a downturn seem to be weighing on the dollarBusiness live – latest updatesNo sooner had historic 25% tariffs on imports to the US from Canada and Mexico come into force on Tuesday than the commerce secretary, Howard Lutnick, suggested the policy might be softened. Hours later, Donald Trump told Congress that the tariffs were “protecting the soul of our country”.They say it’s the hope that kills you, but for investors trying to make sense of the Trump administration’s economic policies, it’s the uncertainty. Continue reading...

Politics

23 h. ago The 2026 Trade War World Cup encapsulates our new nativist world order | Aaron Timms

The Trump administration’s tariffs have sparked tension with co-hosts Canada and Mexico. That’s bad news for a tournament that is supposed to unite nationsThe start of the run-up to a World Cup is traditionally an upbeat affair. New stadium launches, inclusion-friendly marketing and merch campaigns, the unveiling of a tournament song or quirky mascot: these are the traditional signals by which host nations announce that the big show is approaching. This time, pre-tournament preparations are taking shape a little differently. Thanks to Donald Trump and his determination to pursue economic armageddon against the US’s co-hosts, Canada and Mexico, the tone for the 2026 World Cup is being set not by Shakira or an anthropomorphic keffiyeh but by reciprocal tariffs, a flurry of cross-border insults, and crumbling diplomatic relations between the host nations. On Tuesday, Trump confirmed that the US will begin imposing levies on most imports from Canada and Mexico; Canada immediately retali...

Events

29 h. ago How Trump’s tariffs on Canada, Mexico and China will impact US businesses and shoppers

President Donald Trump’s long-threatened tariffs have plunged America into an escalating trade war — and consumers and businesses will be the hardest hit

Economics

30 h. ago As Republicans thunderously applauded and Democrats walked out in droves, Trump’s Congress speech showcased the US divide | Lloyd Green

The president continues to yearn for adulation, but self-deprecation and modesty were nowhere to be found in his address to CongressTrump declares administration ‘just getting started’ in address to CongressDonald Trump is busy while the world around him is mired in chaos. Six weeks into his second term, he has reversed the course of US policy towards Ukraine, imposed tariffs on China, Canada and Mexico, and delegated the task of slashing government to Elon Musk. The stock market swoons.Recession and stagflation are no longer hypotheticals. The term “trade war” fills the headlines. The Dow sits hundreds of points below where it stood on Inauguration Day. Trump’s second term is already consequential and controversial. Continue reading...

Politics

31 h. ago Businesses scramble to contain fallout from Trump's tariffs on Canada, China and Mexico

A Minnesota farmer worries about the price of fertilizer

Politics

33 h. ago Asian shares and US futures are higher after Wall St losses wipe out S&P 500's post

Asian shares and US futures are higher after Wall Street's losses wiped out all of the S&P 500’s post-U.S. election gains

Politics

35 h. ago What to know about Trump's tariffs and their impact on businesses and shoppers

U.S. President Donald Trump’s long-threatened tariffs are here — plunging America into an escalating trade war with China, Canada and Mexico

Economics

38 h. ago Trump could meet Canada and Mexico ‘in the middle’ on tariffs, Lutnick says

Investors fret that aggressively protectionist trade policy will hurt economy

Politics

38 h. ago Rachel Reeves warns Britain will not escape the pain of Donald Trump's trade wars as global markets tumble

It came as Mr Trump's swingeing new tariffs on imports from Mexico , Canada and China took effect - and all three countries said they would retaliate.

Events

39 h. ago US consumers warned to brace for higher prices due to Trump’s tariffs

Prices ‘highly likely’ to rise almost immediately, retailers say, after 25% duty hits exports from Mexico and CanadaTrump’s Congress speech – latest updatesAmericans have been warned to brace for higher prices within days of Donald Trump pulling the trigger on Monday, imposing US tariffs on goods from Canada and Mexico and hiking tariffs on China.Global stock markets came under pressure again on Tuesday, with leading indices falling sharply – and the benchmark S&P 500 losing all its post-election gains – as Canada, Mexico and China vowed to retaliate, and investors balked at the prospect of an acrimonious trade war. Continue reading...

Events

39 h. ago Companies brace for price pressures as Trump tariffs start to bite

Manufacturing, retail and food sectors highlight coming shocks after duties on Canada, Mexico and China are imposed

Politics

40 h. ago Stock markets drop as Trump’s tariffs with Mexico and Canada begin and create unease on Wall Street

Wall Street had a negative reaction as Trump’s tariffs on Canada and Mexico began

Politics

41 h. ago Trudeau addresses Trump directly as he rips into his ‘dumb’ tariffs

Mexico, Canada, and China all plan to hit U.S. with retaliatory tariffs in response to Trump’s policies

Politics