55 h. ago US jobs market slows down as businesses cope with Trump trade war uncertainty

May’s jobs report was dragged down by loss of 22,000 federal workers’ jobs as Doge cut positionsThe US economy added 139,000 jobs in May, a slowdown compared with recent months as American businesses cope with uncertainty around Donald Trump’s continuing trade war.After signs of a strong labor market in April – which was largely seen as resiliency against teetering trade policy from the White House – May saw a drop in new jobs added to the labor market, according to new data from the Bureau of Labor Statistics. The unemployment rate remained steady at 4.2%, unchanged from last month. Continue reading...

Politics

3 d. ago The right is breaking ranks over Trump and his tariffs | Sidney Blumenthal

A trade court ruling is exposing the civil war on the right, as key legal establishment figures oppose the presidentDonald Trump’s trade war has become his quagmire: legal, economic and political. On 28 May, the court of international trade ruled his tariffs exceeded his constitutional authority. Point by point, the decision decimated Trump’s arguments as flimsy and false, implicitly castigated the Republican Congress for abdicating its constitutional responsibility, and reminded other courts, not least the supreme court, of the judicial branch’s obligation to exercise its authority regardless of the blustering of the executive and the fecklessness of the legislative branches.Trump’s tariffs, along with his withdrawal of active support for Ukraine and passivity toward his strongman father figure Vladimir Putin, have broken the western alliance, forcing the west to make its own arrangements with China, and cementing the idea for a generation to come that the United States is an untru...

Politics

3 d. ago Trump’s tariffs have become his Vietnam – and the right is breaking ranks | Sidney Blumenthal

A trade court ruling is exposing the civil war on the right, as key legal establishment figures oppose the presidentDonald Trump’s trade war has become his quagmire: legal, economic and political. On 28 May, the court of international trade ruled his tariffs exceeded his constitutional authority. Point by point, the decision decimated Trump’s arguments as flimsy and false, implicitly castigated the Republican Congress for abdicating its constitutional responsibility, and reminded other courts, not least the supreme court, of the judicial branch’s obligation to exercise its authority regardless of the blustering of the executive and the fecklessness of the legislative branches.Trump’s tariffs, along with his withdrawal of active support for Ukraine and passivity toward his strongman father figure Vladimir Putin, have broken the western alliance, forcing the west to make its own arrangements with China, and cementing the idea for a generation to come that the United States is an untru...

Politics

3 d. ago Europe's central bank expected to lower interest rates as Trump's trade war threatens growth

Lower inflation and concern that U.S. President Donald Trump’s trade war will slow already modest growth have cleared the way for the European Central Bank to cut interest rates at Thursday’s policy meeting, a step that would lower borrowing costs for consumers and businesses and promote economic activity

Events

4 d. ago Apple and Alibaba’s AI rollout in China delayed by Trump trade war

Partnership between US and Chinese tech groups stalled by Beijing regulator in wake of geopolitical tensions

Politics

4 d. ago Trump is ‘obsessed’ about having a call with China’s Xi this week to hammer out trade deal, insiders reveal

A person familiar with the matter reportedly said the administration is “under a lot of pressure” following China’s critical minerals blockade

Politics

5 d. ago UK firms taking early action as they brace for hits from tariffs – survey

The latest Barclays business prosperity report found 79% of firms are concerned about the global trade war sparked by US President Donald Trump.

Economics

5 d. ago Bank of England chief warns interest rate cuts now 'more uncertain' as OECD downgrades growth forecasts and says inflation will 'linger'

Andrew Bailey said the prospects for easing the burden on Brits was 'shrouded in a lot more uncertainty', largely due to Donald Trump 's trade war.

Events

5 d. ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

5 d. ago UK will slump to 1% growth next year as Trump tariffs bite, says OECD

US, Mexico and Canada economies likely to be worst affected by ongoing tariff battles, says forecastBusiness live – latest updatesThe UK’s economic growth will be slower than expected this year and next as the damage caused by Donald Trump’s tariff war hits trade and investment, according to a gloomy forecast by the Organisation for Economic Co-operation and Development (OECD).The international body downgraded its expectations for this year and next from a forecast made in March, pushing down UK growth from 1.4% to 1.3% in 2025 and from 1.2% to 1% next year. Constraints on Whitehall spending and higher than expected inflation also played a part in a downgrade, the OECD said. Continue reading...

Politics

5 d. ago Walmart and Target workers are sharing pics of price increases amid Trump’s trade war

‘I just feel terrible putting all these ridiculously high prices up,’ said one worker on Reddit

Events

6 d. ago US firms say Trump trade war is hitting production as dollar nears three

Manufacturing survey signals third monthly decline in output in a row amid uncertainty over tariffsUS manufacturers have warned that Donald Trump’s trade war is hitting production, pushing the dollar close to a three-year low against sterling on Monday.The greenback suffered a fresh sell-off, after the closely watched ISM survey of the manufacturing sector signalled a third monthly decline in output in a row. Continue reading...

Events

9 d. ago Donald Trump accuses China of ‘totally violating’ tariffs deal with US in blow to moves to avoid trade war

Trade talks between Washington and Beijing were said to be a ‘bit stalled’

Economics

9 d. ago BoE policymaker plays down inflation risk in call for rate cuts

Alan Taylor says price rises are being driven by one-off factors as he stressed hit from Trump trade war

Events

9 d. ago Trump trade war: Tariffs back on as appeals court rules in president’s favor amid outbursts over ‘unelected’ judges

Appeals court pauses the Court of International Trade ruling on Trump’s tariffs while legal challenge plays out

Events

9 d. ago Trump trade war live: Tariffs back on as appeals court rules in president’s favor amid outbursts over ‘unelected’ judges

Appeals court pauses the Court of International Trade ruling on Trump’s tariffs while legal challenge plays out

Events

1 week ago The trade court’s Trump tariff decision is a ‘deeply American problem’ – with enormous global implications

Experts warned the court decision will not necessarily provide any relief to countries hoping for lower tariffs or even trading uncertainty with the US, Rachel Clun reports

Politics

1 week ago The trade court’s Trump tariff decision is a ‘deeply American problem’

Experts warned the court decision will not necessarily provide any relief to countries hoping for lower tariffs or even trading uncertainty with the US, Rachel Clun reports

Politics

1 week ago Donald Trump goes on unhinged rant after being called 'chicken' over trade war

The US president was asked about the new acronym that's been coined to mock his trade policies amid high tariff rates on other nations, but he was not impressed

Politics

1 week ago ‘Nonsense and stupid’: Trump’s tariff war will cause global damage, says Grosvenor boss

Policy will eventually right itself, adds Mark Preston, who heads Duke of Westminster’s property groupDonald Trump’s global tariff trade war is “nonsense and stupid” and will damage every country in the world, including the US, the boss of one of Britain’s most powerful property companies has said.Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was “convinced” that the president’s sweeping tariff policies would ultimately be removed. Continue reading...

Events