32 h. ago World Trade Organisation says global trade could slide this year because of Trump’s tariff policies

‘Enduring uncertainty threatens to act as a brake on global growth’ says international trade forum

Politics

37 h. ago Trump tariffs will send global trade into reverse this year, warns WTO

World Trade Organization says trade between US and China is expected to plunge by 81% in ‘decoupling’Donald Trump’s tariffs will send international trade into reverse this year, depressing global economic growth, the World Trade Organization has warned.In its latest snapshot of the global trading system, the Geneva-based institution says it had previously expected goods trade to expand by a healthy 2.7% this year. As a result of Washington’s trade policy, it is now forecasting a 0.2% decline. Continue reading...

Events

4 d. ago UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports

Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade warThe UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years. Continue reading...

Politics

6 d. ago Tariffs live: Global markets unstable while Trump says US ‘doing really well’ on trade policy

The share markets reacted after China lifted tariffs on US goods to 125 per cent and said it would ignore any further US levy increases in the escalating trade war

Politics

6 d. ago Airline losses expected as Trump’s trade war lowers travel demand

The ongoing trade disputes initiated by the Trump administration have created turbulence in global markets and impacted travel

Politics

7 d. ago Donald Trump claims he could clinch global trade deals 'all in one day' as world holds its breath

President Donald Trump leaves everyone guessing as he backtracks over 'reciprocal' tariffs on most of the world, but insists 'more great days coming', while the world holds its breath

Politics

7 d. ago Starmer urged to accelerate global trade deals after Trump tariff chaos

Exclusive: The UK is warned it cannot isolate itself from the effects of a trade war between the US and China after Donald Trump’s U-turn on tariffs

Economics

7 d. ago Will Trump’s tariff chaos be China’s gain in global trade wars?

As China retaliates against tariffs, it is also making strategic manoeuvres on EU and Asia to maximise opportunitiesBusiness live – latest updatesOn the basis of Napoleon’s dictum “never interrupt your enemy while they are making a mistake”, there was a large incentive for China to do precisely nothing as Donald Trump displayed his determination to lose friends and induce market panic. Indeed, the Chinese advocates of passivity cited a social media meme attributed to President Xi Jinping: “Do nothing. Win.”Initially it was tempting for China to sit back and watch the US’s former allies recoil at Trump’s disruptive war on globalisation and let them realise that, by comparison, China represented an oasis of stability, modernity and predictability. Continue reading...

Events

7 d. ago Global stocks soar as Donald Trump backs down from trade war

Washington pauses most tariffs against countries that have not retaliated but increases levies on China

Politics

8 d. ago Trump signs executive order on water pressure to ‘restore shower freedom’

White House says order will ‘make America’s showers great again’ and ‘end the Obama-Biden war on water pressure’A global trade war roller coaster was not enough to distract Donald Trump from fulfilling one of his longtime priorities Wednesday: changing the federal definition of “showerhead”, a move the White House said would “end the Obama-Biden war on water pressure”.Trump has complained for years about inadequate water pressure in American showers, sinks and toilets, and has blamed federal water-conservation standards for the problem. Continue reading...

Politics

8 d. ago US stocks soar as Donald Trump backs down in global trade war

Washington scraps most tariffs against countries that have not retaliated but increases levies on China

Politics

8 d. ago Petrol to fall below 130p a litre within days as Trump tariffs cause oil price to plunge

Fears that Trump's new trade tariffs could trigger a global recession has sent oil prices plummeting - and drivers will benefit at the pumps.

Politics

8 d. ago NHS medicines could be at risk due to Trump tariffs and global trade friction, ministers warned

Ministers must treat medicines supplies as a ‘defence’ issue as it faces ‘hostile activity’ over the brewing trade war

Events

8 d. ago ‘Explosive' trade war tariffs spark falls in global markets but Trump claims: 'I know what the hell I'm doing'

FTSE 100 in London and Asian stock markets take another pounding with Japan’s Nikkei 225 dropping 5% as Trump’s tariffs against 60 ‘worst offender’ nations come into effect

Events

8 d. ago Global markets fall as ‘explosive' trade tariffs kick in, but Trump claims: 'I know what the hell I'm doing'

FTSE 100 in London and Asian stock markets take another pounding with Japan’s Nikkei 225 dropping 5% as Trump’s tariffs against 60 ‘worst offender’ nations come into effect

Politics

8 d. ago Ireland’s deputy PM to meet US secretary of commerce as EU finalises first part of response to Trump’s tariffs – Europe live

Simon Harris to meet Howard Lutnick as EU member states vote on final list of €21bn of goods facing retaliatory tariffsUS president Donald Trump continues to rewrite the rules of global trade, as his sweeping tariffs take effect.Rates on imports to the United States from dozens of economies rose further from 12.01am (0401 GMT) on Wednesday, with tariffs imposed on Chinese products since Trump returned to the White House reaching a staggering 104%. The new tariffs include rates of 20% on the European Union, 26% on India and 49% on Cambodia. Continue reading...

Politics

8 d. ago Big Short investor reveals why Trump will win global tariff trade war as he gives brutal advice to Canada and Mexico

Eisman - whose own exploits during the 2008 market crash were chronicled in Hollywood blockbuster The Big Short - said Trump (right) could get 'pretty much what he wants' out of the tariffs.

Economics

9 d. ago Global trade friction sparked by Trump tariffs could put 85% of NHS medicines at risk, ministers warned

Ministers must treat medicines supplies as a ‘defence’ issue as it faces ‘hostile activity’ over the brewing trade war

Events

9 d. ago How ‘liberation day’ rout compares with other notorious stock market crises

A swift loss of £4tn from global stock markets has led some to liken Trump’s trade war to 1929 Wall Street crashBusiness live – latest updatesDonald Trump’s escalating trade war has plunged global financial markets into the steepest rout since the spread of the Covid pandemic five years ago.Drawing parallels with the 1929 Wall Street crash and the ensuing 1930s Great Depression, the US president’s “liberation day” tariff plan has led to warnings of a global recession from leading economists. Continue reading...

Politics

9 d. ago Wall Street traders on Trump tariffs: ‘Without doubt, we’re hitting a recession’

Traders leaving the New York stock exchange were trying to make sense of another day of volatility – what comes next?Traders leaving the New York stock exchange after the bell closed on Monday were sanguine about what had been, by an measure, a day of mood swings on Wall Street, as waves of volatility shook the stock markets, each one created by another deluge of headlines around Donald Trump’s trade war and global economic uncertainty.“The markets opened down a lot, then there was a rumor that the tariffs were off, and they went back up, then all bets were off again and it went down,” said Steve Kos of Option Circle, who offered a series of trading day comparisons as he walked out on to Broad Street in lower Manhattan. Continue reading...

Politics