11 h. ago Trump’s tariffs will likely mean ‘higher inflation and slower growth’, says Fed chair

While the US economy remains robust, Jerome Powell cautions there is high uncertainty over its directionUS politics live – latest updatesDonald Trump’s global tariffs assault is set to raise prices and slow down economic growth, Federal Reserve chair Jerome Powell has warned, defying the US president’s demands for an immediate interest rate cut.While the US economy remains robust, Powell cautioned that there is high uncertainty over its direction. “Downside risks have risen,” he told an event in Arlington, Virginia, on Friday. Continue reading...

Economics

37 h. ago Stocks tumble on Wall Street as Donald Trump’s sweeping tariffs send shockwaves through global markets – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy, as US dollar falls to six month low after US President Trump’s ‘liberation day’Full report: Trump announces sweeping new tariffsAnalysis: Trump’s tariffs likely to raise prices and cause chaosWhat are tariffs and why do they matter?The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

41 h. ago US dollar ‘at risk of confidence crisis’ as Trump tariffs rattle global markets – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy, as US dollar falls to six month low after US President Trump’s ‘liberation day’Full report: Trump announces sweeping new tariffsAnalysis: Trump’s tariffs likely to raise prices and cause chaosWhat are tariffs and why do they matter?The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

47 h. ago EU threatens countermeasures and Asian markets plunge after Trump tariff announcement – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy after US President Trump targets allies on what he dubbed ‘liberation day’Full report: Trump announces sweeping new tariffs, upending decades of US trade policyAnalysis: Trump’s wall of tariffs is likely to raise prices and cause chaos for businessThe new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

51 h. ago Asian markets plunge as world reels from Trump tariff announcement – business live

US president has announced aggressive tariffs targeting US allies on what he has dubbed ‘liberation day’Full report: Trump announces sweeping new tariffs, upending decades of US trade policyAnalysis: Trump’s wall of tariffs is likely to raise prices and cause chaos for businessUS futures have fallen sharply, with the Dow Jones dropping 2.4% at around 2345 GMT, the Nasdaq index plunging 4.2%, and the broader futures index for the S&P 500 falling 3.5%. AFP reports:Wall Street has largely suffered from Trump’s various trade announcements in recent weeks.“The silver lining for investors could be that this is only a starting point for negotiations with other countries and ultimately tariff rates will come down across the board,” Northlight Asset Management’s Chris Zaccarelli wrote in a note to clients. Continue reading...

Economics

52 h. ago Liberation from what? Trump promised lower prices – his tariffs risk the opposite

Trump pledged to liberate the nation from higher prices, and is betting tariffs won’t raise them too high, for too longFor weeks, Donald Trump and his aides sought to brand Wednesday as “liberation day” in America. Many in the US could be forgiven for wondering what exactly they’ve just been liberated from.After much hype, the president unveiled his plan for a new era in global trade: a blanket 10% tariff on goods imported into the US from Saturday, and higher “reciprocal” tariffs (of up to 49%) on countries taxing US exports from next Wednesday. Continue reading...

Politics

53 h. ago The Latest: Business leaders warn Trump tariffs will raise prices for US consumers

President Donald Trump has announced plans for sweeping tariffs

Events

54 h. ago Trump’s wall of tariffs is likely to raise prices and cause chaos for business

President promised liberation yet may have plunged the US into recession and the world into an economic scrambleDonald Trump is finally making good on his campaign promises to “build that wall” – but instead of steel fencing along the Mexican border, it will be constructed from tariffs, and will enclose the entire United States.In his pugnacious and typically rambling speech on the White House lawn on Wednesday, Trump set out plans for across-the-board import taxes, ranging from 10% to more than 40%. Continue reading...

Economics

5 d. ago Trump says he ‘couldn’t care less’ if tariffs make car prices go up

Trump says tariffs on foreign-made cars would would lead to increased sales of US-made carsDonald Trump said on Saturday he did not warn car industry executives against raising prices as tariffs on foreign-made autos come into force, telling NBC News he “couldn’t care less” if they do.The president’s comments came as the White House prepared to impose new tariffs on a range of consumer goods on 2 April, a move that has drawn criticism from international leaders and concerns about potential price increases for consumers.Guardian staff contributed reporting Continue reading...

Politics

7 d. ago Trump warned automakers not to raise prices after his tariffs and be happy how ‘great’ they are

Trump reportedly hosted a call in early March with auto CEOs before he made the 25 percent tariffs official this week

Events