5 d. ago Trump tariffs: American shoppers hit with 60% of costs as import taxes reach 100

Tariffs on U.S. trading partners finally in full effect months after ‘Liberation Day’ announcement and ensuing turmoil and uncertainty

Economics

6 d. ago Dozens more countries face higher taxes on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ levies were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesDozens of countries face higher taxes on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs have come into force.The sweeping “reciprocal” levies announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

6 d. ago Dozens more countries face higher levies on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ rates were in place as of a minute past midnight Washington time on ThursdaySee the full list of Trump tariff ratesBusiness live – latest updatesDozens of countries face higher levies on their exports to the US now that Donald Trump’s latest wave of country-specific tariffs has come into force.The sweeping “reciprocal” rates announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Continue reading...

Politics

7 d. ago Trump, taxes and takeovers: Aberdeen’s OEG navigates its way to $1 billion sales goal

“Anything that increases costs and complexity - tariffs and taxes - can put you off investing” – John Heiton, CEO

Economics

3 w. ago Trump administration to destroy nearly $10m in contraceptives

Long-acting contraceptives will not be sent abroad to women in need, a move costing US taxpayers $167,000The Trump administration has decided to destroy $9.7m worth of contraceptives rather than send them abroad to women in need.A state department spokesperson confirmed that the decision had been made – a move that will cost US taxpayers $167,000. The contraceptives are primarily long-acting, such as IUDs and birth control implants, and were almost certainly intended for women in Africa, according to two senior congressional aides, one of whom visited a warehouse in Belgium that housed the contraceptives. It is not clear to the aides whether the destruction has already been carried out, but said they had been told that it was set to occur by the end of July. Continue reading...

Politics

3 w. ago Trump administration to destroy nearly $10m of contraceptives for women overseas

As part of president’s end to foreign aid, destruction of the long-acting contraceptives will cost US taxpayers $167,000The Trump administration has decided to destroy $9.7m worth of contraceptives rather than send them abroad to women in need.A state department spokesperson confirmed that the decision had been made – a move that will cost US taxpayers $167,000. The contraceptives are primarily long-acting, such as IUDs and birth control implants, and were almost certainly intended for women in Africa, according to two senior congressional aides, one of whom visited a warehouse in Belgium that housed the contraceptives. It is not clear to the aides whether the destruction has already been carried out, but said they had been told that it was set to occur by the end of July. Continue reading...

Politics

4 w. ago Tomatoes are set to jump in price as Trump slaps a 17% tariff on the grocery staple

‘I give it three months, and then we go bankrupt,’ says one Californian restaurant owner

Politics

4 w. ago Thousands offered UK asylum in secret scheme after personal data of Afghans who helped British forces leaked by mistake – live

Dataset containing details of thousands of Afghans who applied for relocation to UK released ‘in error’ in 2022Helen Miller is taking over as director of the Insitute for Fiscal Studies thinktank this week, taking over from Paul Johnson, who established himself as the nation’s leading budget commentator.Budget commentary tends to focus on the Treasury’s fiscal rules, on how much “headroom” is available to Rachel Reeves (spare cash in the budget – based on spending plans and anticipated tax revenue, based on the OBR’s growth assumptions), and whether tax or spending plans need to change because the OBR’s forecasts have shifted.Labour came to office with the promise of a ‘mission-driven’ government – a commitment to long-term thinking and systemic reform. The ambition that we should be ‘raising our sights as a nation’ and finding ways to tackle the big challenges we face is the right one.Despite this, we continue to limp from fiscal event to fiscal event, obsessed with whether run of ...

Society