11 h. ago Trump says China will face 55% tariffs under trade deal; US inflation rises to 2.4% – business live

Rolling coverage of the latest economic and financial newsElon Musk says he regrets some of his posts about Trump: ‘They went too far’US-China trade talks: ‘framework’ deal amid dispute over rare earthsShares in Tesla are set to rally in New York later today, after Elon Musk attempted to patch up relations with Donald Trump.Tesla’s shares are up 2.5% in premarket trading at $334.28, as traders react to Musk’s expression of regret over his criticism of Trump last week. Continue reading...

Economics

11 h. ago Trump says Trade War ‘deal with China is done’ and he and Xi agree on minerals: ‘FULL MAGNETS’

China’s restrictions on rare earth exports have been putting pressure on American manufacturers who rely on them for a wide range of products

Politics

11 h. ago Inflation holds steady as data shows how prices are faring after Trump’s ‘Liberation Day’ tariffs

May’s consumer price index captures the period after President Donald Trump unveiled his ‘Liberation Day’ trade tariffs

Economics

11 h. ago Trump says U.S. trade deal with China is done, after tariff talks in London yield "framework deal"

Trump says U.S. trade deal with China is done, after tariff talks in London yield "framework deal"  CBS News

Economics

13 h. ago Inflation likely ticked higher last month, though Americans may be spending less to travel

U.S. inflation likely picked up a bit last month as President Donald Trump’s tariffs start to bite, but lower prices for gas and possibly for air fares and used cars may limit the overall increase

Economics

21 h. ago Trump tariffs may remain in effect during appeals process, court rules

The decision applies to broad-based tariffs affecting most U.S. trading partners

Politics

35 h. ago 2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffsBusiness live – latest updatesThe World Bank has cut its forecasts for growth, blaming Donald Trump’s trade war and says the 2020s are on course to be the weakest decade for the global economy since the 1960s.In its twice-yearly Global Economic Prospects report, the Washington-based lender reduced its forecast for global GDP growth this year to 2.3%, down from 2.7% in January. Continue reading...

Economics

60 h. ago Trump tariffs latest: Immigration crackdown will end strong US growth, warns JP Morgan

Trump tariffs latest: Immigration crackdown will end strong US growth, warns JP Morgan  The Telegraph

Events

61 h. ago Trump tariffs latest: China to deepen relationship with Britain, says vice premier

Trump tariffs latest: China to deepen relationship with Britain, says vice premier  The Telegraph

Politics

62 h. ago Trump’s tariffs have made fast fashion even more exploitative. Here’s how

Mona Mashhadi Rajabi, Lisa Lake, Martina Linnenluecke and Yun Shen deep dive into the impact Trump’s tariffs have had on fast fashion

Politics

67 h. ago We are witnessing the first stages of Trump’s police state | Robert Reich

The national guard’s deployment in Los Angeles sets the US on a familiar authoritarian pathway. History shows the resultsNow that Donald Trump’s tariffs have been halted, his big, beautiful bill has been stymied, and his multi-billionaire tech bro has turned on him, how does he demonstrate his power?On Friday morning, federal agents from Immigration and Customs Enforcement (Ice), the Department of Homeland Security (DHS), the FBI, and the Drug Enforcement Administration (DEA) conducted raids across Los Angeles – including at two Home Depots and a clothing wholesaler – in search of workers who they suspected of being undocumented immigrants.Robert Reich, a former US secretary of labor, is a professor of public policy emeritus at the University of California, Berkeley. He is a Guardian US columnist. His newsletter is at robertreich.substack.com Continue reading...

Politics

67 h. ago We are witnessing the first stages of a Trump police state | Robert Reich

The national guard’s deployment in Los Angeles sets the US on a familiar authoritarian pathway. History shows the resultsNow that Donald Trump’s tariffs have been halted, his big, beautiful bill has been stymied, and his multi-billionaire tech bro has turned on him, how does he demonstrate his power?On Friday morning, federal agents from Immigration and Customs Enforcement (Ice), the Department of Homeland Security (DHS), the FBI, and the Drug Enforcement Administration (DEA) conducted raids across Los Angeles – including at two Home Depots and a clothing wholesaler – in search of workers who they suspected of being undocumented immigrants.Robert Reich, a former US secretary of labor, is a professor of public policy emeritus at the University of California, Berkeley. He is a Guardian US columnist. His newsletter is at robertreich.substack.com Continue reading...

Politics

3 d. ago Trump's bravado has totally backfired. China has the President right where it wants him

London will today be centre of attention, as representatives have flown in for negotiations to defuse the trade war between the world's two mightiest economic powers.

Politics

3 d. ago Trump tariffs could ‘wipe out’ European steel sector, senior industry figure says

ThyssenKrupp executive warns of ‘collateral damage’ to supply chains and urges protective action on energy pricingEurope’s steel industry faces being “wiped out” in the face of Donald Trump’s prohibitive 50% tariffs, high energy costs and a mountain of cheaper Chinese steel, one of Germany’s biggest industrial groups has warned.Ilse Henne, a board member at the steel, engineering and chemicals group ThyssenKrupp, said the industry faced an existential crisis after the US president’s decision last week to double tariffs on steel and aluminium imports from 25% to 50%. Continue reading...

Politics

3 d. ago Rotten Apple: are we finally watching the death of the iPhone?

As Donald Trump turns on Tim Cook and rivals gain traction, Joe Bromley asks if time's up for the tech giant

Events

4 d. ago URGENT: Trump says U.S., China tariff teams to meet in London on Monday

URGENT: Trump says U.S., China tariff teams to meet in London on Monday  MSN

Politics

5 d. ago Between ‘rollover UK’ and ‘retaliatory China’: will EU hardball secure trade deal with US?

Optimism is growing in Brussels, but high-risk strategy has only weeks to play out before pause in tariff threat endsIn Brussels’ corridors of power, quiet optimism is growing that the EU’s hardball strategy to secure a US trade deal is working. While Britain quickly moved to try to cushion the impact of Donald Trump’s tariffs with a deal agreed last month – and US-Chinese relations are a tit-for-tat situation – the EU has taken a different stance. “We are positioning ourselves between ‘rollover UK’ and ‘retaliatory China’,” said a Brussels source.The stakes are not just the £706bn in transatlantic trade between the EU and US but the fallout from what diplomats and businesses say is a dangerous assault on the global rules-based system that governs western democracy. Continue reading...

Economics

5 d. ago A banana a day to keep the tariffs away? Howard Lutnick mocked during congressional hearing over plan to make more products in America

‘We cannot build bananas in America,’ commerce secretary reminded in surreal exchange at House hearing on Donald Trump’s tariff policy

Events

5 d. ago Hiring slows across US amid uncertainty over Trump’s tariffs

The number of Americans applying for unemployment benefits has risen to the highest level in eight months

Politics

6 d. ago London’s IPO drought deepens but could Trump’s tariffs shake things up?

London’s IPO drought deepens but could Trump’s tariffs shake things up?  CNBC

Politics