President poised to further impose taxes after Beijing announced a 34% tariff on US imports as global markets fall
Donald Trump has threatened to impose an additional 50% tariff on imports from China on Wednesday unless the country rescinds its retaliatory tariffs on the United States by Tuesday.
The news comes on the third day of catastrophic market falls around the globe since Trump announced his trade war last Wednesday with tariffs on the US’s trading partners.
Continue reading...Barbados PM and Caricom chair calls on Washington to engage in talks to ‘keep prices down for all of our people’
The Caribbean is a friend, not an enemy, leaders in the region have told Donald Trump after the US president’s imposition of worldwide import tariffs.
The prime minister of Barbados, Mia Mottley, invited Trump to talk with leaders in the region and “work together to keep prices down for all of our people”, adding: “I say simply to President Trump: our economies are not doing your economy any harm in any way. They are too small to have any negative or distorted impact on your country.”
Continue reading...The value of one Australian dollar dropped to a low of 59.64 US cents, its lowest point since April 2020
Consumers and travellers will face higher prices after the Australian dollar fell to Covid-era lows, as markets reel from Donald Trump’s “liberation day” tariff plan.
Fears of a global recession dragged the Australian dollar sharply lower on Monday against the country’s major trade partners and to its lowest point against the Euro, pound and US dollar since 2020.
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Continue reading...Japan’s Nikkei 225 tumbles nearly 9% on Monday as Hong Kong’s Hang Seng down 8% and South Korea trading temporarily halted amid Trump tariff concerns
Hong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.
Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says.
Continue reading...Japan’s Nikkei 225 tumbles nearly 9% on Monday as Hong Kong’s Hang Seng down 8% and South Korea trading temporarily halted amid Trump tariff concerns
Hong Kong stocks have plummeted more than 9% at open, while Singapore stocks dropped over 7%, according to reports.
Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of the widening global trade war and fears it will unleash a deep recession, Reuters says.
Continue reading...US president tells reporters the levies are ‘medicine to fix something’ as Nikkei tumbles nearly 9% in early trading, worsening huge losses from last week’s announcement
Donald Trump said foreign governments would have to pay “a lot of money” to lift sweeping tariffs that he characterised as “medicine,” as markets in Asia plunged in early trading on Monday.
Speaking to reporters aboard Air Force One late on Sunday, the US president indicated he was not concerned about market losses that have already wiped out nearly $6tn in value from US stocks. “I don’t want anything to go down. But sometimes you have to take medicine to fix something,” he said.
Continue reading...US president tells reporters the levies are ‘medicine to fix something’ as Nikkei tumbles nearly 9% in early trading, worsening huge losses from last week’s announcement
Donald Trump said foreign governments would have to pay “a lot of money” to lift sweeping tariffs that he characterised as “medicine,” as markets in Asia plunged in early trading on Monday.
Speaking to reporters aboard Air Force One late on Sunday, the US president indicated he was not concerned about market losses that have already wiped out nearly $6tn in value from US stocks. “I don’t want anything to go down. But sometimes you have to take medicine to fix something,” he said.
Continue reading...Pam Bondi, Trump loyalist and top law enforcement official, expresses skepticism about recent third-term talk
Pam Bondi, the US attorney general, has expressed skepticism about the idea of Donald Trump serving a third term in the White House, saying that when her boss’s current presidency ends on 20 January 2029, he is probably “going to be finished”.
Bondi’s comments come just a week after Trump gave his most blunt indication yet that he was seriously considering trying for a third term to follow up ones that began in 2017 and this past January – despite the clear prohibition against doing so enshrined in the US constitution.
Continue reading...Erez Reuveni no longer on Kilmar Abrego Garcia case after not ‘vigorously’ defending Trump administration
A federal justice department attorney has been placed on leave by the Trump administration for purportedly failing to defend the administration vigorously enough after it says it erroneously deported a Maryland man to El Salvador, which a US judge called a “wholly lawless” detention.
The action against justice department lawyer Erez Reuveni came after US district judge Paula Xinis had ordered that Kilmar Abrego Garcia, a Salvadoran immigrant who lived in the US legally with a work permit, be returned to Maryland despite the Trump administration’s position that it cannot return him from a sovereign nation.
Continue reading...Commerce secretary insists on CBS that tariffs will ‘stay in place’ as treasury secretary tells NBC negotiation is possible
Senior officials within Donald Trump’s administration gave conflicting messages on Sunday about the US president’s global tariffs that have caused a meltdown in stock markets, prompted warnings of a world recession and provoked rare expressions of dissent from within his Republican party.
Cabinet members fanned out across Sunday’s political talk shows armed with talking points on Trump’s 10% across-the-board tariff on almost all US imports, with higher rates targeted at about 60 countries. If the intention was to calm nerves with a clear statement of intent, then it backfired as top officials gave starkly contrasting signals.
Continue reading...Commerce secretary insists on CBS that tariffs will ‘stay in place’ as treasury secretary tells NBC negotiation is possible
Senior officials within Donald Trump’s administration gave conflicting messages on Sunday about the US president’s global tariffs that have caused a meltdown in stock markets, prompted warnings of a world recession and provoked rare expressions of dissent from within his Republican party.
Cabinet members fanned out across Sunday’s political talk shows armed with talking points on Trump’s 10% across-the-board tariff on almost all US imports, with higher rates targeted at about 60 countries. If the intention was to calm nerves with a clear statement of intent, then it backfired as top officials gave starkly contrasting signals.
Continue reading...PM says he will use policy to shelter British businesses following the stock market turmoil prompted by Trump’s announcement
Starmer orders economic reset amid Trump’s tariff mayhem
Welcome back to our live coverage of the economic fallout from Donald Trump’s announcement of sweeping tariffs last week.
Almost $5tn (£4tn) was wiped off the value of global stock markets after the US president made his shock announcement last Wednesday, which included a 10% base tariff on imports into the US from the UK.
Continue reading...White House welcome for key member of Russian president’s inner circle raises fears over America’s commitment to peace
Kirill Dmitriev’s meetings with US officials in the White House last week went largely below the radar. And deliberately so.
The dapper investment envoy to Russian president Vladimir Putin, who also serves as a key negotiator for Moscow on Ukraine, posted an image of his flight plan on social media to make the point that a senior sanctioned Russian official was being welcomed by the Trump administration. Otherwise, details of what was discussed remain opaque.
Continue reading...Tariff discussions would make Netanyahu the first foreign leader to travel to Washington in an attempt to negotiate a better deal
The Israeli prime minister, Benjamin Netanyahu, is set to travel to Washington to meet with US president Donald Trump to discuss issues including tariffs, Gaza and the “Iranian threat”, his office has confirmed.
The meeting will take place on Monday, a White House official said on the condition of anonymity.
Continue reading...Democratic senator calls on voters to get creative in pushing back against Trump at town hall in New Jersey
The Democratic senator Cory Booker took a version of his record-breaking Senate floor speech on the road Saturday to a town hall meeting in a New Jersey gymnasium, calling on people to find out what they can do to push back against Donald Trump’s agenda.
Booker took questions at suburban New Jersey’s Bergen Community College the same day that more than 1,200 “Hands Off” demonstrations took place around the country. The town hall event was punctuated both by celebratory shouts of “Cory, Cory” as well as at least a half-dozen interruptions by protesters.
Continue reading...Protesters gather at more than a thousand events across the US and in cities abroad, such as London, Berlin and Paris. This blog is now closed.
Hundreds of protesters gathered in central London on Saturday as part of global demonstrations against Donald Trump’s administration.
Crowds gathered in Trafalgar Square with banners that read “No to Maga hate” and “Dump Trump”. The rally is one of hundreds of so-called “Hands Off” demonstrations around the world – including in cities across the US, Paris and Berlin.
We see the foundations of our society, social security, Medicare, Medicaid, the very safety nets that people have fought for, for generations, to ensure that our country lives up to its promise, are being targeted by the billionaires and the oligarchs and the corporations.
This insidious rise of authoritarianism is fueled by corrupt billionaires and mega corporations who believe that they have the right to control every aspect of our lives, our healthcare, to our schools, to our thoughts, to our very free speech under the false banner of patriotism and freedom …
Continue reading...Texas senator’s comments another sign of Republican unease over ‘reciprocal tariffs’ and stock market plunge
Ted Cruz, the US senator from Texas, has warned that his fellow Republicans risk a “bloodbath” in the 2026 midterm elections if Donald Trump’s “liberation day” tariffs cause a recession.
Cruz also warned that the president’s tariffs, if they stay in place for long and are met by global retaliation on American goods, could trigger a full-blown trade war that “would destroy jobs here at home, and do real damage to the US economy”.
Continue reading...Carmaker says action will allow it to consider how to mitigate cost of 25% tariff on imports
Jaguar Land Rover (JLR) will pause shipments of its UK-made cars to the US for a month as it considers how to mitigate the cost of Donald Trump’s tariffs.
The 25% tariff imposed by the US on imported cars and light trucks took effect on 3 April.
Continue reading...‘It is up to all of us to fix this,’ former president said in speech at Hamilton College in New York
Barack Obama has called on US citizens, colleges and law firms to resist Donald Trump’s political agenda – and warned Americans to prepare to “possibly sacrifice” in support of democratic values.
“It has been easy during most of our lifetimes to say you are a progressive or say you are for social justice or say you’re for free speech and not have to pay a price for it,” Obama said during a speech at Hamilton College in Clinton, New York, on Thursday.
Continue reading...White House has said US courts can’t order return of Kilmar Abrego Garcia, whose wife has been protesting outside court
A federal judge on Friday afternoon ordered the US to return a Maryland man mistakenly deported to an El Salvador prison after a Trump administration attorney was at a loss to explain what happened.
The wife of the man, who was flown to a notorious Salvadoran prison had earlier joined dozens of supporters at a rally before a court hearing on Friday, where his lawyers had asked the judge – Paula Xinis – to order the Trump administration to return him to the US.
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