2 w. 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

2 w. ago Donald Trump insists 'China wants deal badly and it will happen' in social media rant

Donald Trump has posted about China after Beijing threatened to fight the president's recent Liberation Day tariffs of 34% against the nation with reciprocal measures

Politics

2 w. 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

3 w. ago China’s furious reaction to Trump’s tariff announcement – but not for the reason you think

In the wake of US President Donald Trump's "Liberation Day" announcement on tariffs placed on every nation in the world, China has reacted to fury on taxes placed on another nation

Politics

3 w. ago Trump imposes ‘Liberation Day’ tariffs on every nation as senators rebel over Canada duties: Live updates

President Trump has revealed the next phase of sweeping tariffs which sees stock markets slide as his trade war sparks recession fears

Politics

3 w. ago Trump’s ‘Liberation Day’ tariffs impose levies on every nation as senators rebel over Canada duties: Live updates

President reveals next phase of sweeping tariffs agenda; global markets fear escalating trade war

Politics

3 w. ago Trump news at a glance: sweeping tariffs announced; Musk could be nearing end of role

Trump announces ‘reciprocal’ tariffs on largest US trading partners; Elon Musk may leave government role at end of 130-day cap. Here’s your roundup of key US politics stories from 2 April 2025Donald Trump announced sweeping tariffs on some of its largest trading partners on Wednesday, upending decades of US trade policy and threatening to unleash a global trade war on what he has dubbed “liberation day”.Trump said he will impose a 10% universal tariff on all imported foreign goods in addition to “reciprocal tariffs” on a few dozen countries, charging additional duties onto countries that Trump claims have “cheated” America. Continue reading...

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3 w. ago ‘War’ and ‘pain’: what the papers say about Donald Trump’s trade tariffs

The US president has announced new taxes on imports to the US starting at a baseline of 10% – here is the front-page reaction in BritainDonald Trump’s tariff “day of liberation” arrived with the US president imposing markups on imports while accusing other nations, including allies, of “looting, pillaging, raping and plundering” the US.The UK got off relatively lightly with the basic 10%. Here is how major British newspapers see it. Continue reading...

Politics

3 w. ago ‘Catastrophic for American families’: Business leaders react as Trump imposes ‘Liberation Day’ tariffs on world

Tariff announcements prompted worldwide financial anxiety and opposition from some Republicans on Capitol Hill

Politics

3 w. ago Trump imposes sweeping Liberation Day reciprocal tariffs targeting 'foreign cheaters' sending shockwaves worldwide

President Donald Trump made good on his campaign promise to implement sweeping new tariffs during a Wednesday afternoon event in the White House Rose Garden.

Events

3 w. ago Trump announces sweeping new tariffs, upending decades of US trade policy

President to impose ‘reciprocal’ tariffs on largest trading partners and says new charges will bring about ‘golden age’Business live – latest updatesDonald Trump announced sweeping tariffs on some of its largest trading partners on Wednesday, upending decades of US trade policy and threatening to unleash a global trade war on what he has called “liberation day”.Trump said he will impose a 10% universal tariff on all imported foreign goods in addition to “reciprocal tariffs” on a few dozen countries, charging additional duties onto countries that Trump claims have “cheated” America. Continue reading...

Politics

3 w. ago Keir Starmer 'won't hit back' at looming Trump tariffs as he vows a 'calm response'

Keir Starmer is gathering Cabinet on the eve of the Donald Trump's so-called 'Liberation Day' - when he has vowed to impose huge levies on imports from around the world.

Politics