9 m. ago Stock markets expected to continue plunge as investors fear impact of Trump’s tariffs and China’s response

Friday’s stock market comes after a historically bad day as investors react to Trump’s tariff plan

Economics

16 m. ago ‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s tariffs

Impoverished African country is hit with highest tariff rate at 50%, overturning decades of global trade policyThe day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs.Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing, as well as diamonds, under a continent-wide trade agreement meant to help African countries’ development via tariff-free exports. Continue reading...

Politics

24 m. ago From Nike to Apple: which US brands could be hit hardest by Trump tariffs and what’s at stake?

Companies with suppliers in Asian countries are likely to have to raise prices after the US president’s measuresBusiness live – latest updatesDonald Trump’s “liberation day” tariff war has so far wiped trillions off the market value of publicly traded companies, with the sweeping border taxes of up to 50% poised to wreak havoc on businesses across the world.US-based global brands from Nike to Apple have suffered some of the heaviest falls in share price and market value, as investors react to fears of price increases and a potential slowdown in consumer spending. Here, we examine some of the most exposed industries and brands. Continue reading...

Politics

30 m. ago Starmer to hold talks with other global leaders to discuss response to Trump tariffs, says No 10 – UK politics live

UK prime minister to speak to international leaders this weekend to ‘maintain stability and strengthen our partnerships abroad’Trump claims Starmer ‘very happy’ about tariffsDowning Street has refused to confirm President Trump’s claim that Keir Starmer was “very happy” about the treatment the UK is getting under the new US global tariff regime. (See 9.32am.) Asked about the president’s words at the morning lobby briefing, the PM’s spokesperson said that the government had already set out its position yesterday and that it was “disappointed” by the US tariff policy.Livia Tossici-Bolt has been sentenced at Poole magistrates’ court to a conditional discharge for two years for two charges of breaching a “buffer zone” outside an abortion clinic in Bournemouth, PA Media reports. See 11.22am. Continue reading...

Politics

32 m. ago Are Trump’s tariffs for real or an AI hallucination? I’m afraid the answer is both | Marina Hyde

Amid claims that a chatbot helped shape the key calculations, the president is now off playing golf. He’ll find the world economy in a bunkerThere’s a scene in the very first episode of Yellowstone where the casino-owning Native American chief explains the basic financial logic of all casinos to an uncomfortable politician: “The gamblers’ money is like a river – flowing one way. Our way.” Oh no, hang on, wait Not all casinos. In fact, it could be that when all is said and done, the historians looking for that one key fact to illustrate the eventual legacy of Donald Trump will not go with his two stunning presidential election wins. Instead, they’ll point out that in the 90s, he literally managed to bankrupt casinos. To repeat: this is a man who somehow contrived to bankrupt multiple casinos. Is he the guy to reshape the entire global economic order of the past century? Let’s find out! Either way, only 45 months of his presidency left to go.Anyway: tariffs. Rather than using actual t...

Politics

45 m. ago 'There will be blood': Trump's trade war 'means 60% chance of global recession' as China hits back at the US and shares keep plunging

The FTSE 100 fell another 140 points this morning after the US president's extraordinary assault on allies and foes alike wiped £2trillion off company values internationally.

Events

53 m. ago The Guide #185: How The Phantom Menace’s trade wars can help you understand our political moment

In this week’s newsletter: Donald Trump’s week of chaos has made me reappraise the unloved Star Wars prequel – was it quite prescient after all?There are many scary things to come out of Trump’s tariffs. The world economy being thrown into chaos; spiralling prices; furious economic experts showing charts with big down arrows, using phrases like “gilt markets” and “share index undergrowth”, which I definitely understand. But the most terrifying thing – the thing that has made me truly believe that we are living in the End Times – is a panic-inducing realisation: The Phantom Menace just might have been right all along.For those who haven’t seen the first Star Wars prequel, GOD I envy you. The dialogue is wooden and the structure inexplicable (sure, let’s just have a pod-race instead of an Act II) – and that’s even before we get onto the Jar Jar Binks of it all (the answer to the question “what if we shaved Paddington and spliced his DNA with the most unlikeable newt in the world?”). B...

Politics

53 m. ago Ministers 'to water down Net Zero electric car targets next week' in bid to prop up UK industry after Trump tariffs

No10 refused to be drawn on claims that the zero emission vehicles (ZEV) mandate could be eased next week, with targets downgraded.

Politics

57 m. ago How Trump tariffs led to a $2.5 trillion wipeout for the US stock markets – and why worse is yet to come

Tech giant Apple lost more than $300bn in market value

Economics

64 m. ago Trump tariffs live: China hits US with huge 34% tariff after FTSE drops in market meltdown

China hits back with huge tariffs after Trump’s ‘Liberation Day’ wipes $2.4trn from S&P 500, in its biggest one-day loss since March 2020

Politics

65 m. ago China launches major trade war response with 34% additional tariffs on US goods in retaliation for Trump's 34% levy

Beijing announced the measure today, igniting a major trade war between the two global economies. The latest wave of tariffs are in addition to the existing tariffs already imposed on US goods.

Politics

69 m. ago Stock markets plunge as China announces retaliatory 34% tariffs on US goods – business live

Global trade war escalate as Beijing hits back against Donald Trump with new tariffs on US goodsIMF warns of ‘significant risk’ to global economy from Trump tariffs as markets slideGlobal markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsNew Civil Liberties Alliance, a conservative legal group, has filed what it says is the first lawsuit seeking to block Donald Trump’s tariffs on Chinese imports, saying the US president overstepped his authority. Reuters reports:The lawsuit, filed in federal court in Florida, alleges that Trump lacked the legal authority to impose the sweeping tariffs unveiled on Wednesday as well as duties authorized on February 1 under the International Emergency Economic Powers Act.“By invoking emergency power to impose an across-the-board tariff on imports from China that the statute does not authorize, President Trump has misused that power, usurped Congress’s right to contro...

Economics

72 m. ago FTSE latest: European stock markets plunge after China retaliates with 34% tariff on US goods

The stock markets in the UK, France, Germany, Japan, South Korea and Australia were all falling for a second day

Economics

81 m. ago China responds to Trump tariffs with its own 34% levy on all US goods

China says it will impose restrictions on the export of certain rare-earth elements to the US

Politics

83 m. ago How investors can protect against tariff turbulence... and even profit from the storm

Ahead of Isa deadline day, the mood is apprehensive following Donald Trump's unveiling of his tariff plan, which has shrunk the value of many stocks and shares Isas.

Economics

86 m. ago The first UK victim of Trump's Tariff: Firm lost £350,000 order from US customer at last minute because of new levy

A businessman has lost a £350,000 deal with a US customer following President Trump's decision to hit the UK with tariffs on exports.

Economics

87 m. ago What Ancient Rome can tell us about the fate of Trump’s tariffs

When tariffs were used in Ancient Rome, they often led to higher prices, black markets and other economic problems, Peter Edwell writes

Politics

94 m. ago How could Donald Trump’s tariffs affect UK households and their finances?

Households could see their money affected in various ways following the US president’s announcement on tariffs

Politics

1 hour ago How a volcanic island of penguins but no humans ended up on Trump's tariff list

The islands can only be reached via a week-long boat trip and hasn't been visited by humans in almost a decade

Politics

1 hour ago How could Donald Trump’s tariffs affect households and their finances?

Households could see their money affected in various ways following the US president’s announcement on tariffs.

Politics