20 h. ago Trade war fears trigger biggest slide in US consumer expectations since 1990 recession – business live

Rolling coverage of the latest economic and financial newsXi announces plan for Chinese economy to counter impact of US trade warEuropean stock markets are rising this morning, amid hopes that China is relaxing some of its tariffs.In London, the FTSE 100 index is up 12 points or 0.13%, at 8417 points. Engineering companies are among the top risers, with aerospare manufacturers Melrose up 3.6%, and Rolls-Royce up 2%, after Safran reported that tariffs on aircraft parts have been lifted.“We learned last night that China has taken the decision not to tax engines or landing gear or nacelles - in other words a certain number of aerospace equipment parts.”“It demonstrates that the situation is very fluid.” Continue reading...

Economics

28 h. ago China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

Rolling coverage of the latest economic and financial newsRachel Reeves used a brief speech to US investors at the British ambassador’s lavish residence in Washington last night, to acknowledge some of the downsides of globalisation, in a nod to Donald Trump’s stance.As she prepares to meet Treasury secretary Scott Bessent today, Reeves said China’s entry into the global trading system 25 years ago had created “huge benefits in terms of cheaper goods, more innovation and more opportunities to trade”.“They voted for change because they didn’t think that the economy worked well enough for them and their families. They saw the erosion of good jobs that paid a decent wage. They saw industries that once powered their towns disappear. And as elected politicians we have to respond to that”.“Some may say that under this very consequential president we have at the moment, this is a rollercoaster period and therefore a challenge to us all. But we would say that a rollercoaster is fine, as lon...

Economics

2 w. ago Nigel Farage compares Donald Trump to LIZ TRUSS and warns the US might not win trade war with China

Nigel Farage moved to distance himself from his long-term ally as he admitted he had never seen the kind of chaos that has gripped markets in the wake of 'Liberation Day'.

Events

3 w. ago Trump live: Apple and Tesla stocks drop in wake of ‘Liberation Day’ as Republicans defy president over tariffs

President Trump says he will impose blanket tariffs on all countries, hitting China and Europe hardest

Politics

3 w. ago Trump live: Apple stocks tumble in response to ‘Liberation Day’ as senior Republicans speak out on tariffs

President Trump says he will impose blanket tariffs on all countries with ‘worst offenders’ including China and Europe facing much higher rates

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 How will Trump's tariffs affect YOU? Inside the 'bumpy road ahead' for Brits in the wake of the US President's 'Liberation Day'

Britain appeared to come out the least unscathed in the Republican's so-called Liberation Day announcements. Many nations saw tariffs of up to 49% slapped on them.

Politics

3 w. ago Senate Republicans consider joining Democrats to oppose Trump over tariffs

Republican defections would amount to rare public rebuke as concerns mount over impact of president’s plansUS politics live – latest updatesOn the eve of Donald Trump’s so-called “liberation day” for tariffs, a handful of Senate Republicans are debating whether to defy the president and join Democrats to stop the US from imposing levies on Canadian imports.The resolution, offered by the Democratic senator Tim Kaine of Virginia, would terminate the emergency order that Trump is using to justify tariffs against Canada, citing the flow of fentanyl across the US’s northern border. The vote is largely symbolic – the House is not expected to take up the measure – but several defections would amount to a rare and notable rebuke of the president by his own party. Continue reading...

Politics