1 week ago Xi warns ‘no winners’ from Trump trade war as he heads to Vietnam

Chinese leader seeks to strengthen ties with export-dependent economies facing high US levies

Events

2 w. ago China hits back at US with 125% tariffs as Xi Jinping warns Donald Trump ‘there are no winners in trade war’

The move announced on Friday is the latest tit-for-tat retaliatory tariffs hike in a growing trade war between the two superpowers

Events

2 w. 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

2 w. ago Trump imposes new tariffs on dozens of partners, sparking fresh market turmoil

Rates on imports to US from dozens of economies rise further, with China hit by 104% tariffsBusiness live – latest updatesThe US and China are heading towards an all-out trade war, after Donald Trump unleashed a fresh wave of tariffs against dozens of partners that triggered a fresh day of stock market turmoil on Wednesday.Despite the market chaos, China’s government was unbowed, reiterating threats of further countermeasures and saying it was unwilling to fight a trade war but “will never sit idly by and watch the legitimate rights and interests of the Chinese people be damaged and deprived”. Continue reading...

Politics

2 w. 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

3 w. ago Every reason why Trump's tariffs war matches the plot to Star Wars' Phantom Menace

EXCLUSIVE: Donald Trump's 'Liberation Day' saw the Orange Manbaby roll out a series of crippling tariffs across all countries, with some experts worried he's heading for a trade war scenario

Politics