6 d. ago I’ve seen many phoney trade wars come and go. This is the real thing | Larry Elliott

This battle between the US and China goes far beyond market turmoil – it has killed off the liberal dream of a borderless world Donald Trump’s decision to impose a 104% tariff on Chinese imports into the US – and China blasting back with 84% – has spooked the financial markets. The response is entirely rational. Over the past few decades, phoney trade wars have been commonplace. Rival nations have squared off against each other, indulged in a bit of sabre-rattling, but eventually agreed on a deal. Headlines that screamed “trade war looms” were quickly replaced by those that read “trade war averted”. This time it’s different. The battle between the US and China prompted by Trump’s tariffs is no pretend trade war. It is the real deal – and it will have real consequences. Tariffs operate as a tax, adding to the costs of doing business and raising prices for consumers. Growth will slow and inflation rates will rise. The global economy was already growing only slowly. As things stand, it...

Events

6 d. ago Trump reveals how American families can PROFIT from market crash: Live updates

President Donald Trump said other world leaders are desperate to deals with him as his tariffs come into effect.

Events

6 d. ago China retaliates with 84% tariffs as Trump says ‘great time to move companies to the US’ – business live

Stock markets down in UK and across Europe after steep declines in Asia, while turmoil spreads to bond market China announces 84% tariffs on all US goods in response to Trump’s 104%Bank of England warns Trump tariffs threaten global growth and raise risk of ‘severe shocks’Today’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners. Continue reading...

Politics

6 d. ago Trump Treasury Secretary Scott Bessent fires back at 'loser' China in all

President Donald Trump said other world leaders are desperate to deals with him as his tariffs come into effect.

Politics

6 d. ago China hits out at 'threats and coercion' over Donald Trump's 104% tariffs

China's government has shared a white paper on the country's popular Weibo platform, spelling out the context of the trade war after President Donald Trump hit the country with record-high tariffs

Events

6 d. ago What do Trump’s 104% tariffs on China mean and who will be affected?

As Trump slaps 104% tariffs on China, Alicja Hagopian and Millie Cooke look at what industries will be hardest hit.

Politics

6 d. ago What does Trump’s 104% tariff on China mean and who will be affected?

As Trump slaps 104% tariffs on China, Alicja Hagopian and Millie Cooke look at what industries will be hardest hit.

Politics

6 d. ago Trump's massive 104% tariff sparks 'bullying' response from China as market plunges

Donald Trump has declared a trade war on the rest of the world after his latest round of tariffs went into full effect at midnight. China has now been slapped with an eye-watering 104%

Politics

6 d. ago UK and EU stock markets slump as Trump’s tariffs, including 104% on China, take effect – business live

Stock markets down from Australia to Japan and Taiwan as Trump presses ahead with huge retaliatory tariffs on ChinaFull report: Trump unleashes new wave of tariffsDispatch: The view from Yiwu, China’s biggest wholesale marketToday’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners. Continue reading...

Economics

6 d. ago Trump's 104% monster tariffs spark more global market meltdowns

More chaos is unfolding on the world's financial markets after Trump announced a huge 104% tariff on China - Asian stocks plummeted overnight and the FTSE is expected to drop again this morning

Politics

6 d. ago China reportedly considering ban on Hollywood films in response to Trump tariffs

The White House has said China will be hit with a tariff rate of 104 percent from tomorrow

Politics

6 d. ago Trump declares 'war with the world' as his 'explosive' tariffs take effect and send global stocks plunging again

Asian shares slipped further today as the latest set of Donald Trump's tariffs took effect including a massive 104 per cent levy on Chinese imports.

Events

6 d. ago Tariffs live: Asian markets fall as Trump’s 104% levy against China comes into effect

Beijing has vowed to 'fight to the end' in deepening US-China trade war

Economics

6 d. ago Trump’s sweeping global tariffs, including 104% against China, take effect – business live

Stock markets down from Australia to Japan and Taiwan as Trump presses ahead with plans to hit China with huge retaliatory tariffsFull report: Trump unleashes new wave of tariffs Dispatch: The view from Yiwu, China’s biggest wholesale marketToday’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners. Continue reading...

Economics

6 d. ago Tariffs live: Asian markets fall as Trump confirms China will face 104% levy overnight

Trump’s total new levies climb to 104% on Chinese goods imported into US this year

Economics

6 d. ago Asian markets fall as Trump’s sweeping global tariffs, including 104% against China, due to take effect – business live

Stock markets down from Australia to Japan and Taiwan as Trump presses ahead with plans to hit China with huge retaliatory tariffsToday’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners. Continue reading...

Economics

6 d. ago Trump tariffs live updates: Asian markets tumble as 104% China tariffs loom; president teases tax on pharma imports

Beijing says it will ‘fight to the end’ as president demands China drop its retaliatory countermeasures

Politics

7 d. ago Trump threatens 104% tariff on China as trade war escalates hours before negotiating deadline: Live updates

DAILYMAIL.COM LIVE BLOG: Meanwhile, China blasted Trump's tariffs as 'blackmail' by the United States and vowed to 'fight to the end.'

Events

7 d. ago Trump tariffs live updates: White House says 104% tariffs on China will take effect at midnight

Beijing says it will ‘fight to the end’ as president demands China drop its retaliatory countermeasures

Politics

7 d. ago Trump confirms 104% tariffs will be imposed on China in massive escalation of trade war

China has vowed to ‘fight to the end’ in a trade war

Politics