The first 100 days of Donald Trump’s second presidency have brought about big, destructive changes in U.S. society and culture as well as on the environment. They have also caused real damage to the economy, which has gone on reverse on almost all fronts since Trump took office. By talking out of both sides of...
California’s economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force. Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California’s growth. The data shows California’s gross domestic product (GDP) hit $4.10 trillion (£3.08 trillion)...
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Charlotte Edwards Business reporter, BBC News Getty Images The World Trade Organization (WTO) has forecast that global trade will fall this year because of US President Donald Trump’s tariffs. It added “severe downside risks”, including reciprocal tariffs and political uncertainty, could lead to an even sharper decline in global goods trade. “The decline is expected...
Esme Stallard Climate and science reporter Costfoto/NurPhoto/Getty Images Countries have agreed a global deal to tackle shipping emissions, after nearly ten years of negotiations. The agreement covers the vast majority of the world’s commercial shipping and means that starting in 2028, ship owners will have to use increasingly cleaner fuels or face fines. The deal...
BBC There has been a historic upheaval in American trade policy. The announcement of Donald Trump’s so-called “reciprocal tariffs” on 2 April – what he called “liberation day” – sent a shockwave through the global trading system and financial markets. And the President’s 90-day pause on some of these tariffs on 9 April set off...
Anthony Zurcher North America correspondent in Washington•@awzurcher Watch: Why US markets shot up like a rocket after tariffs pause For days, Donald Trump and his White House team had insisted they were fully committed to their decision to impose sweeping “reciprocal” tariffs on dozens of countries. They even derided a report on Tuesday that said...
Alarm over U.S. President Donald Trump’s tariffs continues to grow, with stocks plummeting and JPMorgan warning that “the risk of recession in the global economy this year is raised to 60%, up from 40%.” After China announced new 34% tariffs on all American goods beginning next week, The Associated Press reported Friday that “the S&P...
The Financial Times is among several papers leading on global markets “plunging” for a second consecutive day, following Donald Trump’s watershed tariffs’ announcement. China has “retaliated” with a 34% tariff on all US imports, while Washington’s beer tariff threatens 100,000 European jobs the paper reports. China’s response tops the Times, with the paper describing the...
EPA Stock markets in London, Paris and Berlin fell as trading began on Thursday after US President Donald Trump’s sweeping announcements on tariffs. The UK’s FTSE 100 share index was down 1% while France’s Cac 40 fell 1.7%. Earlier Asian markets had slid, while the price of gold, which is seen as a safer assest...
The impact of these tariffs on the world economy will be huge. They can be measured by the lines on a chart of US tariff revenue jumping to levels not seen in a century – beyond those seen during the high protectionism of the 1930s. Or in the overnight stock market falls, especially in Asia....
Donald Trump’s politics have shifted considerably over his decades in the public sphere. But one thing he has been consistent on, since the 1980s, is his belief that tariffs are an effective means of boosting the US economy. Now, he’s staking his presidency on his being right. At his Rose Garden event at the White...
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AFP via Getty Images Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday, arguing that they would allow the United States to succeed. “This is one of the most important days in my opinion in American history,” Trump said at a speech in the White House Rose Garden. “It’s our declaration of...
Tens of thousands worldwide held “Tesla Takedown” protests at over 200 locations on Saturday. Outraged by Elon Musk’s devastating contributions to the Trump administration, tens of thousands worldwide held “Tesla Takedown” protests at over 200 locations on Saturday. Protests began the day in front of Tesla showrooms in Australia and New Zealand. They then rippled...