Economic_News

Falling demand suggests loss of financial confidence in US as Donald Trump escalates trade standoff with China

US government bonds, traditionally seen as one of the world’s safest financial assets, are undergoing a dramatic sell-off as Donald Trump’s escalation of his tariff war with China sends panic through all sectors of the financial markets.

The falls suggest that as Trump’s new wave of tariffs on dozens of economies came into force, including 104% levies against Chinese goods, investors are beginning to lose confidence in the US as a cornerstone of the global economy.

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Stock markets down in UK and across Europe after steep declines in Asia as Donald Trump presses ahead with huge 104% tariffs on China

• Full report: Trump unleashes new wave of tariffs
• Dispatch: The view from Yiwu, China’s biggest wholesale market

Today’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.

US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners.

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Levies have heaped pressure on government finances and increased chance of ‘further sharp correction’, report warns

• Trump imposes new tariffs on dozens of partners, sparking fresh market turmoil
• Business live – latest updates

Donald Trump’s sweeping tariffs have put global growth at risk, the Bank of England has warned, heaping pressure on government finances and increasing the likelihood of “severe shocks” to the financial system.

The Bank’s financial policy committee (FPC) said its global risk environment had “deteriorated” and that “uncertainty had intensified” since its last update in November, with US tariff announcements contributing to a “material increase in risks to global growth” and inflation levels.

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Labour say the attraction will bring an estimated £50bn boost to the economy while Tories claim they deserve credit for the new park

Lisa Nandy, the culture secretary, has rejected claims that the government has abandoned plans to have five local inquiries into grooming or rape gangs.

Yvette Cooper, the home secretary, announced the local inquiries in January, at a time when the government was under pressure to announce a national, statutory inquiry into the grooming gangs scandal.

The truth is that we are listening to victims and authorities around the country about the need to give them the right tools to tackle it, this very pernicious problem, in their own areas.

We believe that decisions are best made by those with skin in the game in their own communities, people who live in those communities, who understand what is happening there.

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