11 h. ago British steel industry faces 'existential threat' as EU hikes tariffs to 50%

Move could be even more damaging than Donald Trump's tariffs as Europe accounts for more than three quarters of the UK's steel exports.

Events

12 h. ago EU plan to match Trump steel tariffs spurs ‘existential threat’ to UK steel industry

Alarm sounds over plan in Brussels to double import tariff to 50% with four-fifths of UK exports heading to EuropeThe EU has announced it will match Donald Trump’s steel tariffs, doubling levies on imports to 50% in a move condemned as “an existential threat” to the industry in the UK.With 80% of British exports going to the EU, the change poses the UK steel industry’s biggest ever crisis, according to the lobby group representing the sector. Continue reading...

Politics

34 h. ago Brazil’s president asks US to scrap tariffs in ‘friendly’ call with Trump

Presidents spoke on a video call as expert speculates that Haiti could be an area where the two leaders can cooperateBrazil’s president, Luiz Inácio Lula da Silva, has urged Donald Trump to scrap tariffs on his country’s imports and sanctions against its officials, as the two men held what the Brazilian presidency called a “friendly” video call, swapping phone numbers after months of friction.Ties between the US and Brazil have nosedived as a result of Trump’s campaign to pressure Brazilian authorities into abandoning the coup trial of his far-right ally, Jair Bolsonaro. Continue reading...

Politics

44 h. ago Aston Martin warns on profits amid US tariffs and seeks ‘proactive support’

Carmaker blames weaker demand on Trump policies amid supply chain pressures after Jaguar Land Rover cyber-attackBusiness live – latest updatesAston Martin has blamed Donald Trump’s tariffs for a profit warning, as the carmaker urged the UK government to offer more “proactive support”.The company, which manufactures its cars in factories in Warwickshire and south Wales, downgraded its profit outlook on Monday for the second time this year. It said that it now expects to make a larger loss than the £110m loss that was the lower end of its profit forecasts. Continue reading...

Events

4 d. ago Trump mulling $2,000 ‘dividend’ for Americans to share money made from tariffs

Donald Trump has suggested giving $2000 to Americans using his tariff money, although the Supreme Court is still deciding whether his tariffs are even legal

Economics

5 d. ago Donald Trump 'considering easing' Scotch whisky tariffs after intensive talks

The Bloomberg news organisation is reporting a special deal could be done on whisky.

Politics

7 d. ago Australian film producers and experts call Trump tariff proposal ‘bizarre’ and impossible to enforce

US president threatens levy on all foreign-made films, but experts point out that the industry is global and Australia is intertwined with HollywoodFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe federal government has vowed to fight a proposed 100% tariff on Australian-made films after the US president, Donald Trump, posted on his social media platform that he planned to go ahead with the huge levy “on any and all movies made outside the United States”.Industry experts have described the proposal as bizarre and virtually impossible to enforce, given the global nature of film, with production, financing and post-production often spread across several countries. Continue reading...

Politics

7 d. ago How's that 'Special Relationship' going, Keir? Donald Trump vows 100% tariffs on foreign

The US President announced the crackdown on Monday, claiming Hollywood had been 'stolen' by rival nations.

Politics

7 d. ago UK trade deficit in goods hits record £56.6 billion after 'liberation day' Trump tariffs

However, the huge deficit in trade of physical goods was offset by a record surplus in services, says ONS

Economics

8 d. ago Trump takes on IKEA as new furniture tariff means a 'bad day' for Sweden

The world's favourite Swedish flat pack provider could be at risk in the US as president Donald Trump has threatened a large tariff penalty to any businesses outside of his country

Politics

1 week ago Democrats release tranche of Jeffrey Epstein records, including diaries and flight logs – US politics live

Partially redacted documents mention Steve Bannon, Peter Thiel, Elon Musk and Prince Andrew‘Dangerous abuse of power’: lawmakers sound alarm over Comey indictmentWell, the president is awake.Donald Trump has posted the following on his Truth Social social media network:JAMES COMEY IS A DIRTY COP. MAKE AMERICA GREAT AGAIN!Whether you like Corrupt James Comey or not, and I can’t imagine too many people liking him, HE LIED! It is not a complex lie, it’s a very simple, but IMPORTANT one. There is no way he can explain his way out of it. He is a Dirty Cop, and always has been, but he was just assigned a Crooked Joe Biden appointed Judge, so he’s off to a very good start. Nevertheless, words are words, and he wasn’t hedging or in dispute. He was very positive, there was no doubt in his mind about what he said, or meant by saying it. He left himself ZERO margin of error on a big and important answer to a question. He just got unexpectedly caught. James “Dirty Cop” Comey was a destroyer of ...

Politics

1 week ago NHS facing ‘critical threat’ after Trump pressure to hike drug prices

Drug prices in the UK could rise amid 100 per cent tariffs on branded medicines, and pressure from US President Donald Trump to stop ‘global freeloading’

Events

1 week ago Trump says he hopes ‘there will be others’ after James Comey indictment – live updates

President says ‘it’s about justice, it’s not about revenge’ but adds he hopes that others will be prosecuted as ACLU calls indictment ‘grotesque abuse of power’Well, the president is awake.Donald Trump has posted the following on his Truth Social social media network:JAMES COMEY IS A DIRTY COP. MAKE AMERICA GREAT AGAIN!Whether you like Corrupt James Comey or not, and I can’t imagine too many people liking him, HE LIED! It is not a complex lie, it’s a very simple, but IMPORTANT one. There is no way he can explain his way out of it. He is a Dirty Cop, and always has been, but he was just assigned a Crooked Joe Biden appointed Judge, so he’s off to a very good start. Nevertheless, words are words, and he wasn’t hedging or in dispute. He was very positive, there was no doubt in his mind about what he said, or meant by saying it. He left himself ZERO margin of error on a big and important answer to a question. He just got unexpectedly caught. James “Dirty Cop” Comey was a destroyer of li...

Politics

1 week ago ACLU calls James Comey indictment ‘a grotesque abuse of presidential power’ – live updates

Civil rights group says ‘Trump has yet again proven his disdain for the principles that have actually made America great’; US president calls Comey a ‘dirty cop’Well, the president is awake.Donald Trump has posted the following on his Truth Social social media network:JAMES COMEY IS A DIRTY COP. MAKE AMERICA GREAT AGAIN!Whether you like Corrupt James Comey or not, and I can’t imagine too many people liking him, HE LIED! It is not a complex lie, it’s a very simple, but IMPORTANT one. There is no way he can explain his way out of it. He is a Dirty Cop, and always has been, but he was just assigned a Crooked Joe Biden appointed Judge, so he’s off to a very good start. Nevertheless, words are words, and he wasn’t hedging or in dispute. He was very positive, there was no doubt in his mind about what he said, or meant by saying it. He left himself ZERO margin of error on a big and important answer to a question. He just got unexpectedly caught. James “Dirty Cop” Comey was a destroyer of l...

Politics

1 week ago Donald Trump announces 100% tariff on branded pharmaceutical products

The US president also unveiled levies on heavy trucks, kitchen cabinets and bathroom vanities

Politics

1 week ago The next big financial crisis may be brewing. Warning signs are already there | Larry Elliott

The longer the period between crises, the greater the complacency. That complacency is pushing share prices ever-higherUS job creation has stalled and, despite the curbs on migration, unemployment is rising. Tariffs are pushing up the cost of imports. And Donald Trump is at war with the governor of his own central bank and wants him out.But traders on Wall Street are not bothered by the fact that inflation is above the target or that growth is slowing. Share prices are testing new record levels on an almost daily basis. Jerome Powell, the man Trump wants to be rid of, says stocks are “fairly highly valued”, which is an understatement if ever there was one. By historical standards, stocks are extremely highly valued. There is trouble – perhaps big trouble – ahead.Larry Elliott is a Guardian columnist Continue reading...

Events

2 w. ago Global economy more resilient than expected amid Trump tariffs, OECD says

International body warns of slowdown next year, with UK growth expected to lose ground among G7 countriesBusiness live – latest updatesThe global economy has been more resilient than expected in the face of Donald Trump’s tariffs, but is set to slow over the next year, the Organisation for Economic Co-operation and Development (OECD) has warned.The Paris-based club of industrialised countries has upgraded its projection for global GDP this year, to 3.2% – up from the 2.9% it expected in its last forecast in June. Continue reading...

Politics

2 w. ago Trump’s Fed pick doubles down on calls to aggressively cut interest rates

Stephen Miran says rates should be below 3% by end of year and dismisses fears of US president’s tariffs stoking inflationStephen Miran, Donald Trump’s new appointee on the Federal Reserve’s interest-rate-setting board, has doubled down on his calls for the central bank to more aggressively cut interest rates.Last week, the Fed cut interest rates by a quarter point, bringing rates down to a range of 4% to 4.25% – the lowest it’s been since early 2023. Out of 12 voting board members, Miran was the only one to vote against the crowd. He wanted a half-point cut, not a quarter-point cut. Continue reading...

Politics

2 w. ago Trump’s take on a court decision on tariffs is bonkers – even for him | Steven Greenhouse

The president’s claim that undermining his tariffs would ‘literally destroy’ the country gets the situation backwardsJust hours after an appeals court ruled that it was illegal for Donald Trump to impose his unpopular across-the-board tariffs on dozens of countries, he posted a frantic, over-the-top rant that declared: “If allowed to stand, this Decision would literally destroy the United States of America.”So here the president of the United States was asserting that if the courts torpedoed his tariffs, then the US, the most powerful nation on earth, would be destroyed, would “literally” be kaput. Trump seemed to suggest that court rulings that blocked his beloved tariffs would have the destructive power of, say, 100 hydrogen bombs.Steven Greenhouse is a journalist and author, focusing on labour and the workplace, as well as economic and legal issues Continue reading...

Politics

2 w. ago US tariffs disrupting Chinese exports as retailers delay orders

Donald Trump's tariff hikes have been affecting manufacturing exports from China to the US, Inspecs told investors

Politics