2 h. ago Trump’s ‘idiotic’ and flawed tariff calculations stun economists

‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarrayUS politics live – latest updatesUK politics live –latest updatesEurope live – latest updatesWaving a big chart as a prop in the White House Rose Garden, Donald Trump suggested his new tariff plan was simple: “Reciprocal – that means they do it to us, and we do it to them. Very simple. Can’t get simpler than that.”Perhaps a bit too simple. The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.Goods trade deficit: $291.9bnTotal goods imports: $438.9bnThose figures divided = 0.67, or 67%And halved = 34%Reciprocal tariffs are calculated as the tariff rate necessary to balance bilateral trade deficits between the US and each of our trading partners. This calculation assumes that persistent trade deficits are due to a combination of tariff and non-tariff factors that prevent trade from balanc...

Politics

16 h. ago Trump goes full gameshow host to push his tariff plan – and nobody’s a winner

There were charts and scores, as if The Price Is Right had come to Washington. The big prize? A global trade warIt was Jeopardy!, or The Price Is Right, come to Washington.On an unseasonably chilly day in the White House Rose Garden, Donald Trump stood with a giant chart listing which reciprocal tariffs he would impose on China, the European Union, the United Kingdom and other hapless contestants. Continue reading...

Politics

20 h. ago Trump ‘Liberation Day’ live news: Trump to announce reciprocal tariffs plan amid fears of escalating trade war

All eyes on President Trump as he prepares to reveal next phase of sweeping tariff agenda, as global markets fear escalating trade war

Politics

23 h. ago Trump ‘Liberation Day’ live: President to unveil tariff plan from Rose Garden as world braces for its economic impact

All eyes are on President Trump as he prepares to reveal the next phase of his sweeping tariff agenda, leaving global markets fearing a trade war

Politics

25 h. ago Donald Trump unveils 'Liberation Day' tariffs plan as world braces itself for chaos

Orange Manbaby and president of the United States, Donald Trump has set the tone for his very own 'Liberation Day' with a celebratory post on his Truth Social platform

Politics

25 h. ago Trump’s tariffs plan gets mixed reaction in New York: ‘I believe we were lied to’

Some seemed nonplussed and said it would make no difference, while others expressed support for Trump’s plan Donald Trump’s “liberation day” – his plan to overturn decades of US free trade policy – was getting a mixed reaction in New York on Tuesday.With Trump planning to unleash tariffs on global trading partners on Wednesday, many said the price rises economists are predicting would make no difference because they were already out of reach of pinched pocketbooks. Others said they would accept short-term price hikes for longer-term US economic well-being. Continue reading...

Politics

26 h. ago Trump liberation day live: President set to unveil secret tariff plan as world braces for its economic impact

All eyes are on President Trump as he prepares to reveal the next phase of his sweeping tariff agenda, leaving global markets fearing a trade war

Politics

44 h. ago Trump tariffs latest: EU vows ‘strong plan’ to hit back at Trump’s global trade war as UK ‘prepares for worst’

Donald Trump to unveil sweeping tariffs on any country that ‘treats the US unfairly’ on Wednesday

Events

49 h. ago EU has a ‘strong plan’ to retaliate on Trump tariffs, says von der Leyen

Head of European Commission says bloc would prefer to negotiate but all countermeasures are on the tableThe European Union has a “strong plan” to retaliate against tariffs imposed by Donald Trump but would prefer to negotiate, the head of the European Commission, Ursula von der Leyen, has said.Trump, who has upended eight decades of certainties about the transatlantic relationship since taking office, has threatened tariffs on goods from around the world from Wednesday. His administration in March put tariffs on imported steel and aluminium and said higher duties on cars would come into effect on Thursday. Continue reading...

Politics

3 d. ago Trump reportedly pushes his team to be more ‘aggressive’ with tariffs

The president has called Wednesday, when massive tariffs are due to kick in, ‘Liberation Day’

Politics

4 d. ago Digitising UK trade ‘could unlock £250bn in economic growth’ – even with Trump tariffs

With the US president’s tariffs on the UK now looking inevitable, the International Chambers of Commerce is urging the government to adopt a trade plan which could boost the economy by a quarter of a trillion pounds

Economics

4 d. ago Digitising UK trade ‘could unlock £250bn in economic growth’

With Trump tariffs on the UK now looking inevitable, the International Chambers of Commerce (ICC) is urging the government to adopt a trade plan which could boost the economy by £250bn

Economics

7 d. ago Trump’s car tariffs pile pressure on Reeves’ new economic plan

Office for Budget Responsibility warns a global trade war risks eliminating UK chancellor’s fiscal headroom

Economics

8 d. ago Donald Trump's trade tariffs plan could smash Rachel Reeves' hopes of a UK economic recovery as experts warn trade war would cut growth and raise inflation

The Office for Budget Responsibility (OBR) warned that if the protectionist US plan developed into a full-blown global trade war it could reduce UK GDP by a full 1 per cent on its own.

Economics

9 d. ago UK retail sales slump in March; Lower Thames Crossing approval welcomed (and criticised) – business live

UK retailers gloomy, while tunnel to connect A2 and M2 in Kent to the A13 and M25 in Essex has been approved.Lower Thames Crossing plan for Essex and Kent approved by governmentEuropean stock markets are higher this morning, as investors cling to hopes that Donald Trump’s plan to impose reciprocal tariffs on trading partners could be more targetted than feared.The pan-European Stoxx 600 index has gained 0.57% this morning, with gains on the German DAX (+0.5%), French CAC (+0.9%) and Italian FTSE MIB (+0.7%).US markets are beginning to show some belief that President Trump’s strong arm negotiating tactics on tariffs might not be quite as punitive for the US economy as feared.There are growing hopes that if they are more targeted, as rumoured, they might helpshore up domestic industry, while securing better terms for the US on the global trading stage.Tesla currently faces a number of challenges in Europe, ahead of the launch of its new Model Y mid-size SUV this month. The EV maker ha...

Economics

9 d. ago UK retail sales slump in March amid weak confidence, CBI says – business live

Rolling coverage of the latest economic and financial newsEuropean stock markets are higher this morning, as investors cling to hopes that Donald Trump’s plan to impose reciprocal tariffs on trading partners could be more targetted than feared.The pan-European Stoxx 600 index has gained 0.57% this morning, with gains on the German DAX (+0.5%), French CAC (+0.9%) and Italian FTSE MIB (+0.7%).US markets are beginning to show some belief that President Trump’s strong arm negotiating tactics on tariffs might not be quite as punitive for the US economy as feared.There are growing hopes that if they are more targeted, as rumoured, they might helpshore up domestic industry, while securing better terms for the US on the global trading stage.Tesla currently faces a number of challenges in Europe, ahead of the launch of its new Model Y mid-size SUV this month. The EV maker has a smaller, ageing lineup while traditional automaker rivals and new Chinese entrants alike continue to launch new, of...

Economics

1 week ago Trump tariffs hang over Reeves’ plan to repair UK public finances

Chancellor takes axe to Whitehall jobs as government faces pressure from US over tech tax

Politics

1 week ago Rachel Reeves fails to rule tax changes for US tech giants to avoid Donald Trump tariffs

Chancellor Rachel Reeves and UK minister are desperately seeking to strike a deal with the White House to carve the UK out of the Donald Trump's plan to impose tariffs on all US imports

Politics

1 week ago Rachel Reeves fails to rule out tax changes for US tech giants to avoid Donald Trump tariffs

Chancellor Rachel Reeves and UK minister are desperately seeking to strike a deal with the White House to carve the UK out of the Donald Trump's plan to impose tariffs on all US imports

Politics

2 w. ago ‘They’re on. They’re off. We can’t plan’ – bourbon makers dazed by Trump tariffs

The president’s chaotic policy on import duties makes planning impossible, says the CEO of a Kentucky distillery – and state Republicans are unhappy, tooBrough Brothers Distillery is in the midst of a big expansion. A fifteen minutes’ drive from its small distillery in the West End neighborhood of Louisville, Kentucky, workers are toiling away on its new site, seven times the size of the old one, in the heart of Bourbon City.This has been a long time coming for Brough Brothers, which opened its first location in 2020 and had drawn up ambitious plans for international growth in 2025. Then Donald Trump returned to power. Continue reading...

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