8 h. ago Why Russian markets jumped after Trump’s tariff threat against Putin

Russian Stock Market jumped by 2.7 percent after Trump’s ultimatum

Politics

25 h. ago EU warns of ‘big gap’ in trade talks after Trump’s 30% tariff threat

Bloc’s trade commissioner Maroš Šefčovič said duties at that level would make transatlantic trading ‘almost impossible’

Events

34 h. ago EU scrambles to respond to US tariff threat as Trump promises ‘major statement’ on Russia – Europe live

EU ministers meet for urgent talks after US president threatens 30% tariffs on blocA show of unity is expected publicly with German chancellor Friedrich Merz saying he will work “intensively” with Emmanuel Macron, Ursula von der Leyen and Trump to try and rescue the agreement in principle that was put on Trump’s desk last week involving tariffs of 10%. Over the past three months Germany has urged a quick UK style deal while Macron has favoured a tougher stance to face down Trump, given average tariffs before his presidency were 2.5% and they breach WTO rules.The EU’s continued and future reliance on the US for security and defence is influencing the position with member states accepting a trade off between business and arms and military intelligence Trump provides.If stock markets fall that puts at risk the pensions and the savings of the Americans. Continue reading...

Politics

35 h. ago Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – business live

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.Donald Trump’s threat to impose a 30% on European Union imports from next month is weighing on European stock markets this morning.Most of Europe’s markets have dropped at the start of trading, pulling the pan-European Stoxx 600 index down by 0.6%.Inadvertently or otherwise the President is testing the market’s patience. At a time when investors had seemingly brushed aside the likelihood of the base line of tariffs settling at 10%, the new pronouncements suggest a level of between 15% and 20% being the norm, with additionally punitive numbers on the likes of Canada at 35% adding to the uncertainty.The so-called “TACO” trade will therefore be tested again, with markets drifting in the US on Friday and futures currently suggesting a similar fall today. In addition, and as the new 1 August extension approaches, nerves are likely to jangle. Continue readi...

Economics

52 h. ago EU pauses trade retaliation against US after Trump’s 30% tariff threat

European Commission president Ursula von der Leyen calls for negotiated solution to dispute

Politics

5 d. ago Lula threatens 50% tariff on US goods in retaliation for Trump levy on Brazil

Brazilian president says ‘if he charges us 50%, we’ll charge him 50%’ after Trump cited trial of Bolsonaro to justify tariffBrazil threatened to hit back against Donald Trump’s plan to introduce 50% tariffs on its exports with its own 50% tariff on US goods, setting the stage for a precipitous trade war.“If he charges us 50%, we’ll charge him 50%,” Luiz Inácio Lula da Silva, the Brazilian president, told local news outlet Record, a day after Trump threatened to impose steep duties on Brazilian goods and accused the country of conducting a “witch-hunt” against its former president Jair Bolsonaro, who is facing a trial over his attempt to overturn his 2022 election defeat. Continue reading...

Politics

5 d. ago TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood

Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports

Economics

2 w. ago EU leaders mull US tariff response as deadline looms over Trump’s 50% threat

European Commission expects to hear on Thursday whether leaders want quick trade deal or tough reactionEuropean leaders will tell the European Commission later on Thursday whether they want a quick trade deal with the US, or favour a tough response to Donald Trump’s tariff threats.The European Commission president, Ursula von der Leyen, is expected to update EU leaders over dinner on Thursday on trade talks with the US ahead of a looming 9 July deadline. Continue reading...

Politics