China issues warning to UK over terms of US trade deal

UK accused of aligning with US in move that could compel firms to exclude Chinese products from supply chains

China has warned the UK over its new trade deal with the US, accusing Britain of aligning with the US in a move that could compel British companies to exclude Chinese products from their supply chains.

The UK-US trade deal, signed last week, offers Britain limited relief from US tariffs on car and steel exports, but only if it complies with strict American security requirements. These conditions include scrutinising supply chains and ownership structures – a move widely interpreted as targeting Chinese involvement.

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China cautiously welcomes pause in US tariff war

State media editorial says talks mark ‘step toward resolving differences’ but Xi again criticises US ‘bullying’

A 90-day pause in the US-China tariff war has been cautiously welcomed in China but tensions remain high, with Xi Jinping again accusing the US of “bullying”.

After two days of talks between officials in Geneva over the weekend, China and the US agreed to substantially lower for the next 90 days the high tariffs each had imposed on the other in a tit-for-tat trade war.

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Trump claims ‘total reset’ in US-China trade relations after tariff talks in Geneva

US president praises ‘very good’ discussions as top US and Chinese officials meet over trade war triggered by Trump’s tariff blitz

Donald Trump has hailed a “total reset” in US-China trade relations after the first day of talks between top American and Chinese officials in Geneva aimed at defusing a trade war sparked by his tariff rollout.

The US president praised the “very good” discussions and deemed them “a total reset negotiated in a friendly, but constructive, manner”.

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Chinese and US officials meet in Geneva for ‘de-escalation’ trade talks

World Trade Organization hails ‘constructive step’ as senior figures come together to discuss tariffs

Senior US and Chinese officials held talks early on Saturday in Geneva in a tentative first step towards defusing a trade war that is disrupting the global economy, according to China’s state-owned news agency and people close to the talks.

China’s vice-premier, He Lifeng, and the US treasury secretary, Scott Bessent, met after weeks of growing tensions as duties on imports between the world’s two largest economies have risen above 100%.

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Whiplash reversals mean Trump’s erratic trade policy is as clear as mud

The specifics of the administration’s economic masterplan – from strollers to movies to China – change by the day

Decades of economic orthodoxy failed millions of Americans, according to Donald Trump, who marched back into the White House promising to shred the status quo. But the specifics of his alternative – exactly how his administration claims it will make America great again – change by the day.

The US president declared this week to be a key milestone of his second term, as he unveiled his first major trade deal since returning to office following accelerated talks with the UK.

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Trump floats cutting Chinese tariffs from 145% to 80% before weekend talks

Meeting aimed at de-escalating trade war after Chinese exports beat expectations despite slump in trade

Donald Trump has floated cutting tariffs on China from 145% to 80% before a weekend meeting as he looks to de-escalate the trade war.

Top US officials are expected to meet a high-level Chinese delegation this weekend in Switzerland in the first significant talks between the two nations since Trump provoked a trade war with stiff tariffs on imports.

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EU targets US aircraft and car exports in new list of potential tariffs

Move would hit Boeing, as Brussels also starts consultation on possible litigation over Trump’s blanket 20% tariffs

The EU is considering imposing tariffs on US aircraft and car exports in a fresh attempt to persuade Donald Trump to drop his current and proposed tariffs against the EU.

If acted on they will hit Boeing hard but also include further categories of US exports including chemicals, electrical equipment including cameras, health-related products and some foods such as sweet potato and nuts.

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US and UK set to announce trade deal today – UK politics live

US president set to announce ‘full and comprehensive’ trade deal between UK and US with Starmer due to make statement

The Liberal Democrats treasury spokesperson Daisy Cooper has reiterated the party’s position that any trade deal with the US should be put to parliament for approval before being ratified, saying Labour “should not be afraid” of a vote if they are confident a deal is in the country’s best interests.

Cooper, the MP for St Albans, said in a statement:

Parliament must be given a vote on this US trade deal so it can be properly scrutinised.

A good trade deal with the US could bring huge benefits, but Liberal Democrats are deeply concerned that it may include measures that threaten our NHS, undermine our farmers or give tax cuts to US tech billionaires.

If it’s correct, and you know, whilst we haven’t been named publicly, it does sound like something’s happening, nevertheless, it would be wholly speculative [to comment].

As you appreciate and know full well, with any deal like that, the devil is in the detail. What is the nitty gritty? What does it mean for individual sectors and so on.

I think if we don’t know at all what’s in it, or even if it’ll definitely happen, I think to try and sort of pre-judge what might or might not be in is not something I’m going to get into respectfully. I totally understand why you’re asking that. I think it’s an incredibly important issue, particularly with the wider challenge of tariffs and so on. I’m a big free trader. Our party wants us to see the UK growing by striking trade deals. But I just think you’ve got to wait and see, because who knows, quite frankly.

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UK interest rates fall to 4.25% as Bank of England announces a quarter-point cut

Move follows run of downbeat economic data and looks to cushion UK from Trump’s trade war fallout

Bank of England policymakers have cut interest rates by a quarter point to 4.25% to cushion the UK economy against the impact of Donald Trump’s trade war.

The widely expected move from the Bank’s monetary policy committee (MPC), its fourth cut since last August, should lead to cheaper mortgages for homeowners.

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Has UK-India trade deal ‘sold out British workers’ as Farage and Badenoch claim?

Row over exemption of national insurance contributions for Indian short-term workers overshadows deal

A multibillion-pound free trade agreement with India has long been touted as a big Brexit boon.

Cheaper clothes and shoes for British shoppers, a huge market for scotch whisky producers and luxury carmakers, and billions of pounds worth of extra trade are among the benefits of the agreement, which was finalised this week.

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China to cut interest rates in response to trade war with US

Half-point cut to be made to banks’ reserve requirement ratio and 1tn yuan released into banking system

China will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US.

The People’s Bank of China said on Wednesday it would make a half-point cut to the banks’ reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (£103.6bn) into the banking system.

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Starmer beats Trump to the line in race for trade deal with India

India has made concessions in trade negotiations, leaving UK heralding deal as ‘most significant’ since Brexit

It is not exactly the deepest and most comprehensive trade deal the UK has ever entered, but the timing of the announcement that Keir Starmer has clinched a free trade deal with India could not be more fortunate.

Over the weekend, the US president, Donald Trump, hinted he was on the verge of announcing his first trade deal, prompting speculation it could be with Japan, South Korea or India.

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Why is Trump ending the ‘de minimis’ tariff loophole on low-value imports?

Goods worth less than $800 will be subject to 120% levy meaning prices on Chinese exports will probably increase

At one minute past midnight on Friday, eastern time, a US tariff exemption that has fuelled the rise of companies such as Shein and Temu, and stocked the wardrobes of millions of Americans with cheap fast fashion and other household goods, closed. As part of Donald Trump’s flurry of tariffs on China, the US is closing a loophole that allowed low-value goods to be shipped into the US without paying any import fees. The “de minimis” loophole, known by the Latin phrase for “of little importance”, was “a big scam going on against our country”, the US president said on Wednesday. “We put an end to it.”

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Trump tariffs cause fastest slump in British factory export orders in five years

Decline in output and new orders in April allied with rising uncertainty is prompting layoffs, survey finds

Britain’s factories suffered a slump in export orders last month as Donald Trump’s globally unsettling tariff regime sent overseas demand for UK goods tumbling at the fastest pace in five years.

Manufacturers reported rising economic and trade uncertainties in April as some tariffs took effect and other threatened border taxes loomed, forcing them to lay off workers for a sixth consecutive month.

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Chinese e-commerce exports to US plummet by 65% in face of tariffs

Temu and Shein among fast-fashion sites affected by drop in first three months of this year but sales in rise to EU

Exports to the US from Chinese online shops such as Temu and Shein have plunged in the face of Donald Trump’s trade war, as shipping from China to the EU has increased.

Official Chinese data showed its total e-commerce shipping to the US dropped 65% by volume in the first three months of the year, but rose by 28% in Europe.

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China manufacturing activity plummets amid Trump tariff war

Index of activity drops to lowest reading since December 2023 as a result of ‘sharp changes’ in international trading

China’s factory activity slowed in April, with Beijing blaming “sharp changes” in the global economy as it fights a mounting trade war with the United States.

Punishing US tariffs that reached 145% on many Chinese products came into force in April, and Beijing responded with 125% duties on imports from the US. Chinese exports soared more than 12% last month as businesses rushed to get ahead of the punishing tariffs.

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Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products

Xi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.

Friday’s meeting of the politburo was convened to discuss China’s economy, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment and Donald Trump’s tariffs on all Chinese imports to the US.

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Boeing hopes to find new buyers for up to 50 planes returned by China

Airplane manufacturer says it is lobbying Donald Trump over ‘unfortunate’ decision to impose tariffs

Boeing will try to divert as many as 50 planes ordered by Chinese airlines to customers elsewhere after steep tariffs prompted by Donald Trump’s trade war.

The US manufacturer said it was confident it could find other buyers for the planes, but said it was lobbying Trump personally to resolve an “unfortunate situation”.

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UK manufacturers to cut jobs ‘within weeks unless ministers can strike trade deal’

Bosses from automative, manufacturing and energy warned MPs about effect of Trump tariffs

Britain’s manufacturers will start cutting jobs “within weeks” unless the government can strike a deal to safeguard the UK economy from Donald Trump’s trade war, industry leaders have told MPs.

Senior executives from the UK’s automotive, manufacturing and energy sectors warned a committee of MPs to expect job losses this summer if the US moves ahead with a swathe of global trade tariffs set out by Trump earlier this month.

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Boeing investors brace for fallout from Trump tariffs

Jets intended for Chinese airline returned to US, raising fears for planemaker as results near

Investors in Boeing are braced to learn the full impact of Donald Trump’s trade war, amid fears the US planemaker could be hit harder than first expected after jets intended for a Chinese airline were returned to the US.

A Boeing 737 Max 8 plane intended for use by a Chinese airline returned to the US on Monday from Boeing’s China finishing centre, according to flight data cited by Reuters. It followed the arrival in the US on Sunday of another 737 Max painted in the livery of China’s Xiamen Airlines at Boeing’s US production hub in Seattle.

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