Economic_News

We examine potential consequences of US president’s market chaos, which could reach every corner of global finance and economy

Donald Trump may have stepped back from his huge tariff rises on every country, except China, which now faces 125%, but the impact of the market chaos is likely to continue in the UK and beyond. The rest of the world still faces a blanket 10% tariff on all US exports.

While much of the focus has been the direct impact of the tariffs on physical goods, Trump’s actions threaten to reach every corner of global finance and the economy.

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China’s 84% retaliatory tariffs on US goods, announced on Wednesday, are due to come into effect on Thursday

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China and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.

In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said.

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