Category Archives: Trump tariffs

China cautiously welcomes pause in US tariff war

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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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Brazil’s president seeks ‘indestructible’ links with China amid Trump trade war

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Remark comes as Brazil, Colombia and Chile’s leaders fly to Beijing amid international uncertainty generated by Trump

The Brazilian president, Luiz Inácio Lula da Silva, has heralded his desire to build “indestructible” relations with China, as the leaders of three of Latin America’s biggest economies flew to Beijing against the backdrop of Donald Trump’s trade war and the profound international uncertainty his presidency has generated.

Lula touched down in China’s capital on Sunday for a four-day state visit, accompanied by 11 ministers, top politicians and a delegation of more than 150 business leaders.

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

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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

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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

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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

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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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Trump hails trade deal with ‘oldest ally’ UK – but what about the details?

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President’s announcement receives favorable political reaction but experts warn much remains unresolved

There was plenty of congratulatory backslapping in the Oval Office as Donald Trump unveiled his “major” trade deal with the United Kingdom on Thursday, but many of the details of that agreement have been left to later discussions.

Trump’s rush to claim a win for his controversial tariffs policy left many grasping just what to call this: a deal, an agreement, a framework? Observers predict that the coming negotiations could take months.

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

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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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Starmer and Trump to announce UK-US trade deal

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Leaders to hold separate press conferences revealing first trade agreement by White House since global tariffs move

The UK and US are poised to announce a trade agreement, the first by the White House since Donald Trump announced his sweeping global tariffs.

Trump said it was “a very big and exciting day” for both countries before a press conference in the Oval Office on Thursday. Keir Starmer is planning to deliver his own press conference at around the same time.

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Trump tariffs to hit small farms in Maga heartlands hardest, analysis predicts

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Major corporations are best placed to benefit from Trump polices at the expense of independent farmers

The winners and losers of Trump’s first tariff war strongly suggest that bankruptcies and farm consolidation could surge during his second term, with major corporations best placed to benefit from his polices at the expense of independent farmers.

New analysis by the non-profit research advocacy group Food and Water Watch (FWW), shared exclusively with the Guardian, shows that Trump’s first-term tariffs were particularly devastating for farmers in the Maga rural heartlands.

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Jon Voight defends Trump’s film tariff plan: ‘Something has to be done’

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Oscar-winning actor gives first interview to Variety since working with Trump on plan to shake up Hollywood

Jon Voight, the actor who inspired Donald Trump’s surprise statement about placing a 100% tariff on foreign-made films, has given his first interview on the supposed plan to “give people back their dignity and their jobs”.

“Something has to be done, and it’s way past time,” the 86-year-old actor told Variety while he was, according to the magazine, “driving through what sounded like a car wash”.

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

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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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Trump and Carney to meet at White House in closely watched encounter

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Vibe at meeting could hint at future relationship between the two countries and their two leaders

Canada’s prime minister, Mark Carney, was due to meet with the US president, Donald Trump, on Tuesday in a closely watched encounter at the White House that could hint at the future relationship between the two countries and their two leaders.

Over the weekend, Trump said it was “highly unlikely” he would use military force to annex Canada, a key trading partner and political ally. In recent months, the president has repeatedly threatened to use economic coercion to weaken Canada to the point that it accedes to Trump’s wish to make it the 51st state.

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Trump called for 100% tariff on foreign films a day after Jon Voight proposed ‘limited’ tariffs

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Actor was assigned by Trump to come up with a plan to save Hollywood, but his proposal only included tariffs ‘in certain limited circumstances’

US president Donald Trump announced his 100% tariff on films “coming into our country produced in foreign lands” one day after meeting with actor Jon Voight to discuss his proposals to bring film production back to the US – which only suggested that tariffs could be used “in certain limited circumstances”.

The Midnight Cowboy and Heat actor, who was appointed a “special ambassador” to Hollywood by Trump, has been meeting with studios, streamers, unions and guilds for months to develop a plan to lure film and television productions back to the US. Production companies often seek more cost-effective locations or tax incentives in other countries such as Canada, Australia, the UK, New Zealand, Hungary, Italy and Spain.

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Mike Pence rebukes Trump over tariffs and ‘wavering’ support for Ukraine

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Former vice-president says tariffs ‘not a win for the American people’ and predicts public pressure will grow

Donald Trump’s tariffs policy will trigger a “price shock” and possible shortages, and lead to public pressure on him to change his approach, the former vice-president Mike Pence has said.

In one of his most wide-ranging critiques yet on the policies of the president he used to serve, Pence, speaking to CNN, derided the White House’s “wavering” support for Ukraine and declared – in direct contradiction of repeated assurances from Trump – that President Vladimir Putin of Russia “doesn’t want peace”.

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US media stocks slide on Wall Street after Trump threatens movie tariffs

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Netflix, Amazon, Warner Bros Discovery and Paramount shares fall as studios reel from announcement

Shares in US streamers and production companies fell on Monday, after Donald Trump said he would introduce 100% tariffs on films made abroad, a move that couldsharply raise costs for Hollywood studios.

Trump’s announcement on his Truth Social platform, revived worries about the US president’s trade policy and its impact on the world economy.

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Trump announces 100% tariffs on movies ‘produced in foreign lands’

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President calls films ‘national security threat’ and claims he called on commerce department to immediately enact tariff

Donald Trump on Sunday announced on his Truth Social platform a 100% tariff on all movies “produced in Foreign Lands”, saying the US film industry was dying a “very fast death” due to the incentives that other countries were offering to draw American film-makers.

In his post, he claimed to have authorised the commerce department and the US trade representative to immediately begin instituting such a tariff.

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King Charles to open Canada parliament as PM Carney reacts to Trump threats

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Liberal PM will also meet with US president on Tuesday amid tensions over threatened annexation and tariffs

King Charles has accepted an invitation to open Canada’s parliament on 27 May, in “an historic honour that matches the weight of our times”, the country’s prime minister, Mark Carney, said on Friday.

In his first news conference since an election dominated by Donald Trump’s threats to Canada’s sovereignty, the prime minister also confirmed he would meet the US president at the White House on Tuesday.

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China ‘evaluating’ US offer to engage in trade negotiations

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Comments come a week after Trump claimed talks were already taking place

Beijing is “evaluating” an offer from the US to engage in trade negotiations, the Chinese government has said, a week after Donald Trump claimed talks were already under way.

China’s commerce ministry said on Friday: “The US has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China.”

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

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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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