3 d. ago Criticise Trump’s tariffs all you like, but western sanctions aren’t any better – just ask Syria | Simon Jenkins

This form of economic aggression is macho and myopic, yet countries including the UK refuse to give it upAmong the more improbable countries that Donald Trump punished most severely last week was Syria, with a 41% tariff in retaliation for its part in the “raping and plundering” of the US economy. That should teach it a lesson for toppling Bashar al-Assad last year.The Damascus regime that subsequently came to power is pleading for help in keeping order and restoring its economy. But the chief obstacle is not Trump’s absurd tariff – now reduced to 10%. It is the sanctions regime imposed on it for the past 14 years by the west, including Britain. The US prohibits nearly all trade and financial transactions, extending this to foreign companies engaged with the Syrian government. EU sanctions targeted crude oil, investments, banking, telecoms and more. No tariff could be as severe as this.Simon Jenkins is a Guardian columnist Continue reading...

Politics

3 d. ago Trump’s tariffs are ruinous, but are western sanctions any better? Just look at Syria | Simon Jenkins

Sanctions as a form of economic aggression are macho and myopic, yet countries including the UK refuse to call a haltAmong the more improbable countries that Donald Trump punished most severely last week was Syria, with a 41% tariff in retaliation for its part in the “raping and plundering” of the US economy. That should teach it a lesson for toppling Bashar al-Assad last year.The Damascus regime that subsequently came to power is pleading for help in keeping order and restoring its economy. But the chief obstacle is not Trump’s absurd tariff – now reduced to 10%. It is the sanctions regime imposed on it for the past 14 years by the west, including Britain. The US prohibits nearly all trade and financial transactions, extending this to foreign companies engaged with the Syrian government. EU sanctions targeted crude oil, investments, banking, telecoms and more. No tariff could be as severe as this.Simon Jenkins is a Guardian columnistDo you have an opinion on the issues raised in th...

Politics

4 d. ago Trump’s tariffs reduced but UK knows importance of friends new and old to mitigate damage

Reduced tariffs still damage the UK

Politics

4 d. ago Trump’s tariffs may be reduced but their impact will be felt in the UK and beyond

We examine potential consequences of US president’s market chaos, which could reach every corner of global finance and economyDonald Trump may have stepped back from his huge tariff rises on every country, except China, which now faces 125%, but the impact of the market chaos is likely to continue in the UK and beyond. The rest of the world still faces a blanket 10% tariff on all US exports.While much of the focus has been the direct impact of the tariffs on physical goods, Trump’s actions threaten to reach every corner of global finance and the economy. Continue reading...

Politics

4 d. ago Gordon Brown calls for ‘economic coalition of the willing’ to tackle Trump tariffs

Former PM says it is also the moment for the UK to go even further in renewing ties with the EUTrump is pushing the world into recession. By learning the lessons of 2008, we can still prevent it | Gordon BrownGordon Brown has called for an “economic coalition of the willing” to respond to Donald Trump’s tariffs with coordinated economic policies, including a reduction of interest rates.The former prime minister also said it was a moment for the UK to go even further in renewing ties with the EU, suggesting it should mean “collaboration that is even more extensive than removing post-Brexit trade barriers”. Continue reading...

Economics

1 week ago Exclusion from Trump's tariffs reduces premium of New York precious metals over London

Exclusion from Trump's tariffs reduces premium of New York precious metals over London  Reuters

Politics

4 w. ago China plans to ‘vigorously boost consumption’ to shore up economy

Communist party aims to ‘promote reasonable wage growth’ and to reduce financial burdens amid Trump tariffsBusiness live – latest updatesChina’s government has announced ambitious plans to “vigorously boost consumption” by putting up pay and reducing financial burdens, in its latest attempt to increase consumer confidence and lift its struggling economy.The plans, announced by the ruling Chinese Communist party’s (CCP) central committee and state council on Sunday, include aims to “promote reasonable wage growth” and to improve the mechanisms for adjusting the minimum wage. Continue reading...

Politics