Bernd Debusmann Jr BBC News, White House Getty Images Treasury Secretary Scott Bessent addressed reporters within minutes of Trump’s tariffs pause on 9 April In the chaotic minutes after US President Donald Trump’s administration abruptly reversed course and paused dozens of sweeping “reciprocal” tariffs, one man quickly became the public face of the decision: Treasury...
President Donald Trump has predicted that his tariffs could raise as much as $6 trillion over the next decade in federal tax collections. These include up to 104% tariffs on China, plus the combination of reciprocal tariffs — we charge them whatever they charge us. Also, don’t forget the protectionist tariffs...
Donald Trump has said there will “always be transition problems” and “difficulty” as markets fell again amid continued uncertainty over the US president’s global tariff war. His statement on Thursday comes hours after the White House said that tariffs on China would reach 145% for some products due to a pre-existing 20% levy imposed on...
Mitch Labiak & Natalie Sherman BBC News Getty Images As a former champion runner, Richard McDonald can move quickly. But the speed of the market falls, triggered by the sweeping global tariffs Donald Trump announced last week, still kept him on his toes. Previously a trader for Credit Suisse, he now buys and sells stocks...
“Who in the administration knew about Trump’s latest tariff flip flop ahead of time?” Schiff asked. Following the tumultuous ups and downs in the stock market this week in reaction to President Donald Trump’s tariff actions, Sen. Adam Schiff (D-California) is calling on Congress to investigate the possibility of insider trading by the administration. Trump’s...
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...
Dharshini David Deputy economics editor Getty Images Warnings of a global recession have been intensifying as the trade war heats up. As of Wednesday night, the main animus seems to be between the US and China who are flinging ever-increasing tariffs at each other. For most other nations, Donald Trump has paused implementing higher taxes...
Well, this screws up my writing schedule for the day. I had a post scheduled for this time but this one is much more important. President Trump just paused almost all his tariff increases, citing the flood of countries begging for new trade deals to avoid the massive increase in business costs they would impose...
. Workers and consumers in Britain have nothing to gain from joining US-EU and anti-China tariff wars, the Communist Party has warned. “Higher tariffs on our exports and imports would jeopardise investment, jobs and living standards”, General Secretary Robert Griffiths told the Party’s Political Committee last week, “especially given Britain’s trade deficit and a relatively...
Colletta Smith Cost of Living Correspondent Abi Smitton Cost of Living producer BBC Whether it’s pensions, mortgages, investments or the cost of everyday items, many of you have been getting in touch with Your Voice, Your BBC News to ask how the global tariffs and recent stock market turmoil may impact your personal finances. The...
James FitzGerald and Tom Geoghegan BBC News Getty Images The president says import taxes will bring jobs and factories back to US shores US President Donald Trump has urged Americans to trust in his sweeping tariffs, which have spooked markets and threaten to upend global trade, urging them: “Don’t be a PANICAN (A new party...
Lenders are set to cut rates on mortgages after turmoil from US President Donald Trump’s tariff policy raised expectations that UK interest rates could be cut further this year. TSB Bank said it will reduce some two-year fixed rate mortgages by up to 0.25 percentage points on Wednesday, following MPowered Mortgages which trimmed rates on...
Yvette Tan, Annabelle Liang and Kelly Ng Getty Images Xi Jinping has shown no signs that he will blink first in the tariff standoff with the US The trade war between the world’s two biggest economies shows no signs of slowing down – Beijing has vowed to “fight to the end” hours after US President...
Most of Tuesday’s front pages lead with markets around the world which continued to slide as US President Donald Trump vowed to stay the course. In its headline the i Paper says “billions wiped off pensions amid worldwide stock market turmoil”. The paper reflects on Monday’s trading and examines Asian, British and US markets dropping,...
The prime minister has said he is prepared to use industrial policy to “shelter British business from the storm”, following Donald Trump’s wave of new tariffs. Writing in the Sunday Telegraph, Sir Keir Starmer said he will continue to seek an economic deal with the US to avoid some tariffs, but mooted state intervention to...