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”.
Continue reading...Dollar also recovers after Monday’s sell-off prompted by Donald Trump’s attack on Federal Reserve chair
Gold has climbed above $3,500 an ounce for the first time while stocks on Wall Street and the dollar rose following Monday’s sell-off prompted by Donald Trump’s blistering attack on the Federal Reserve chair, Jerome Powell.
Spot gold reached the record price of $3,500.01 (£2,620) on Tuesday, extending a rally that has pushed bullion up from $2,623 an ounce at the start of this year.
Continue reading...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.
Continue reading...President amps up attacks against Jerome Powell, pushing him to lower interest rates to offset impact of tariffs
US stock markets fell again on Monday as Donald Trump continued attacks against the Federal Reserve chair, Jerome Powell, who the US president called “a major loser” for not lowering interest rates.
“There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump wrote on social media.
Continue reading...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.
Continue reading...Rating agency downgrades Ineos Quattro as it says ‘trade barriers’ could affect it for next two years
Sir Jim Ratcliffe’s loss-making chemicals business could take longer than expected to recover its financial health because of Donald Trump’s trade tariffs, analysts have said.
The billionaire industrialist has faced growing concerns over the state of his chemicals group amid problems with his business interests in Manchester United and All Blacks rugby.
Continue reading...Visit by Maryland’s Chris Van Hollen comes as a federal appeals court rules against the Trump’s administration’s efforts to block return to the US
Hello and welcome to the US politics live blog. My name is Tom Ambrose and I’ll be bringing you all the latest news over the next few hours.
We start with news that Maryland senator Chris Van Hollen met in El Salvador with Kilmar Ábrego García, a man who was sent there by the Trump administration in March despite an immigration court order preventing his deportation.
James Comer, the chair of the House oversight committee, and Elise Stefanik, chair of the House Republican leadership, have launched an investigation into Harvard University, accusing the university of a “lack of compliance with civil rights laws”.
Elon Musk’s SpaceX and two partners have emerged as frontrunners to win a crucial part of Donald Trump’s “Golden Dome” missile defense shield.
The supreme court said it will hear arguments next month over Donald Trump’s bid to restrict automatic birthright citizenship.
In their unanimous opinion issued today, a US appeals court warned the Trump administration that battles against the judiciary could undermine public confidence.
After weeks of strong rhetoric, the president told reporters in the Oval Office on Thursday that he thought trade deals could be finished in the “next three or four weeks”.
Trump on Thursday extended a government-wide federal hiring freeze that was set to expire this weekend.
The Washington DC headquarters for the Department of Housing and Urban Development may soon be up for sale.
Continue reading...PM focuses on threat from across the border as most polls show his Liberals leading Pierre Poilievre’s Conservative party in tight race
Canada’s prime minister, Mark Carney, faced sustained attacks from his Conservative rival at an election debate on Thursday but the Liberal leader sought to focus attention on what he calls Canada’s top threat: Donald Trump, the US president.
Most opinion polls show Pierre Poilievre’s Conservative party trailing Carney’s Liberals ahead of the 28 April vote for Canada’s federal government.
Continue reading...US president and first lady received invitation in February from King Charles for unprecedented repeat trip
Donald Trump has said he is expecting to travel to the UK in September for his second state visit.
King Charles is preparing to host the US president and first lady as the UK government tries to bolster transatlantic ties after Trump imposed a series of tariffs on trading partners.
Continue reading...Trump praises Italian PM and accepts invitation that could present chance for him to meet other European leaders
Giorgia Meloni said Donald Trump had accepted her invitation for an official trip to Rome, as the pair met in Washington in an attempt by the Italian prime minister to bridge the gap between the EU and US amid trade tariff tensions.
Meloni said Trump’s trip could happen “in the near future” and could present an opportunity for him to meet other European leaders.
Continue reading...Jensen Huang causes stir on social media and is reported to have met founder of AI company DeepSeek
The chief executive of the American chip maker Nvidia visited Beijing on Thursday, days after the US issued fresh restrictions on sales of the only AI chip it was still allowed to sell to China.
Jensen Huang’s surprise visit was on the invitation of a trade organisation, according to a social media account affiliated with state media.
Continue reading...Government seeks ways to shield industry from possible US levies amid concern over effect on medicine supply
Ministers are having an “active conversation” with UK pharmaceutical firms about the potential impact of US tariffs, amid calls for an emergency taskforce to make sure the supply of medicines is not disrupted.
The UK government has been trying to head off the threat of tariffs to the pharmaceuticals industry, which exports about £7bn of goods to the US – just behind the £8.3bn of car exports.
Continue reading...E-tailers also hiking prices after Donald Trump ends ‘de minimis’ exemption for cheap shipments from China and Hong Kong
Temu and Shein are cutting back their spending on US social media advertising as they lose an exemption on tariffs for many of their shipments from China and Hong Kong.
The online e-tailers, both of which ship low-priced China-made goods direct to US shoppers, had been on an ad spree until recently. But under an executive order from Donald Trump, as of 2 May their sales valued at under $800 will no longer be exempt from US tariffs.
Continue reading...President also claims inflation is falling as Chinese state media tells US to ‘stop whining’ amid escalating trade war
Joe Biden on Tuesday accused Donald Trump and his billionaire lieutenant, Elon Musk, of “taking a hatchet” to the social security administration as they moved at warp-speed to dismantle large swaths of the federal government.
In his first public remarks since leaving office, the former president avoided any explicit mention of Trump – his predecessor and successor – but he was sharply critical of the new administration for threatening social security, which Biden called a “sacred promise” that more than 70 million Americans rely on each month.
Continue reading...Post office says it ‘definitely’ won’t collect tariffs on Washington’s behalf and Hongkongers should prepare to pay exorbitant fees
Hong Kong Post said on Wednesday it had suspended goods mail services by sea to the US and will suspend its air mail postal service for items containing goods from 27 April due to “bullying” US tariffs.
When sending items to the US, people in Hong Kong “should be prepared to pay exorbitant and unreasonable fees due to the US’s unreasonable and bullying acts”, Hong Kong Post said in a statement.
Continue reading...Notices show Trump administration setting stage for levies on both sectors on national security grounds
The Trump administration is kicking off investigations into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on national security grounds, notices posted to the Federal Register on Monday showed.
The filings scheduled to be published on Wednesday set a 21-day deadline from that date for the submission of public comment on the issue and indicate the administration intends to pursue the levies under authority granted by the Trade Expansion Act of 1962. Such inquiries need to be completed within 270 days after being announced.
Continue reading...Unctad says many countries targeted with high tariff rates are unlikely to be a threat to US
The UN’s trade and development arm, Unctad, is calling on Donald Trump to exempt the world’s poorest and smallest countries from “reciprocal” tariffs, or risk “serious economic harm”.
In a report published on Monday, Unctad identifies 28 nations the US president singled out for a higher tariff rate than the 10% baseline – despite each accounting for less than 0.1% of the US trade deficit.
Continue reading...Xi Jinping expected to present China as reliable partner in contrast to US, which imposed – then suspended – tariffs over 40% on some countries
The Chinese president, Xi Jinping, warned there would be “no winners” in a trade war and that protectionism “leads nowhere”, as he began a three-nation trip to south-east Asia, starting in Vietnam on Monday.
Xi’s tour, which started in Hanoi, also includes rare visits to Malaysia and Cambodia and will seek to strengthen ties with China’s closest neighbours amid a trade war that has sent shock waves through global markets.
Continue reading...Chinese customs official says trade has diversified away from US in recent years and plays up its ‘vast domestic market’
China has played down the risk of damage to its exports from Donald Trump’s tariffs, with an official saying the “the sky won’t fall”, as stock markets rose on Monday amid signs of a retreat on electronics restrictions.
The world’s second-largest economy has diversified its trade away from the US in recent years, according to Lyu Daliang, a customs administration spokesperson, in comments reported by state-owned agency Xinhua.
Continue reading...Ray Dalio’s comments come after rocky week across stock markets after policies including 145% tariff raise on China
Billionaire investor Ray Dalio said that he is worried the US will experience “something worse than a recession” as a result of Donald Trump’s trade policies.
Speaking to NBC’s Meet the Press on Sunday, the 75-year-old hedge fund manager said: “I think that right now we are at a decision-making point and very close to a recession. And I’m worried about something worse than a recession if this isn’t handled well.”
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