EPA EU Trade Commissioner Maros Sefcovic warned that Europeans “stand ready to defend our interests” The European Union’s trade chief said the 27-member bloc is committed to securing a trade deal with the US based on “respect” not “threats”. It comes after US President Donald Trump threatened to slap a 50% tariff on all goods...
Last month, President Donald Trump proudly announced, “Liberation Day! … The day American industry was reborn!” Reborn because of his tariffs, which he called, “the most beautiful word in the dictionary.” This is just wrong. The first time he...
Michael Race Business reporter, BBC News Getty Images The US and China have agreed a truce to lower import taxes on goods being traded between the two countries. The agreement marks a major de-escalation of the trade war between the world’s two biggest economies, which has sent shockwaves impacting countless other countries, including the UK....
A done deal, or a “framework”? Does it matter, in terms of PR and market response? Donald Trump teased “a major trade deal” on Truth Social with a “big and highly respected country” late yesterday. This morning, Trump dispensed with the mystery by revealing the United Kingdom as the partner for the new agreement. And...
Jennifer Meierhans Business reporter, BBC News Getty Images The US and the UK are expected to announce a deal to reduce tariffs later. It’s thought US President Trump’s blanket 10% tariffs on imports will stay, but that the UK will see cuts to the 25% tariffs on some of its biggest exports. Here’s a look...
The US central bank has warned that President Donald Trump’s tariffs have created “so much uncertainty” that it is unsure what to do about interest rates. The Federal Reserve announced on Wednesday it would keep interest rates unchanged, despite pressure from Trump to lower borrowing costs. But Fed chairman Jerome Powell said the economic fallout...
The announcement comes as Trump is fighting to suppress the news media on numerous fronts. President Donald Trump announced on Sunday that his administration is implementing a 100 percent tariff on all films produced in foreign countries, denouncing them as “propaganda” as he aims to wrest further control over information and the media in the...
Wall Street has clawed back losses incurred after President Donald Trump imposed global tariffs a month ago, capping the longest winning streak in two decades for US stocks. Shares saw gains for the ninth day in a row for the first time since 2004 after a better-than-expected jobs report and rising hope of US-China trade...
Microsoft has significantly raised prices for its Xbox console, citing increasing development costs and what it called “market conditions”. The increases vary from country to country, with Xbox Series S consoles going up by £50 to £299.99 in the UK. The US has seen even steeper price rises, with the Series X increasing in price...
Fake news? Trial balloon? Big misunderstanding? At the very least, it sounds like Punchbowl News didn’t do enough checking on a “scoop” this morning. Earlier today, the DC-Media-insider site reported that Amazon had entered the tariff wars. Punchbowl alerted reader that the online giant would soon break out tariff price hikes, in order to make...
Natalie Sherman Business reporter, BBC News Getty Images The White House has hit back against a reported plan by Amazon to detail the price impact of Donald Trump’s trade tariffs to its customers, calling it a “hostile” political act. Amazon told the Washington Post it had looked into itemising the costs for customers using Amazon...
US Vice-President JD Vance has arrived in the Indian capital where he is due to hold talks with Prime Minister Narendra Modi amid global trade tensions sparked by Washington’s tariff policies. The talks are likely to focus on fast tracking a much-awaited bilateral trade deal between the two countries. Vance is also expected to go...
Mexican General Motors workers in the Silao, Guanajuato, factory complex clinched record raises after staring down company scaremongering about tariff threats. “They said, well, we’re offering 6 percent,” said Norma Leticia Cabrera Vasquez about management’s offer at bargaining. “We knew they were going to show up with that, but we said, ‘We still have weeks...
Annabelle Liang Business reporter Getty Images To leave or not to leave? China, home to more than a billion consumers, is Apple’s second-largest market Every iPhone comes with a label which tells you it was designed in California. While the sleek rectangle that runs many of our lives is indeed designed in the United States,...
Suranjana Tewari Asia Business Reporter Getty Images Li Chenggang is a former World Trade Organisation and UN representative China has unexpectedly appointed a new trade envoy, as officials said the US’ practice of “tariff barriers and trade bullying” is having a serious impact on the global economic order. Li Chenggang, a former assistant commerce minister...