Economic_News
China offers first hint of devaluation with weak renminbi fix
Beijing permits exchange rate to drop below long-defended level
China vows to ‘fight to the end’ against latest Trump tariff threat
Beijing accuses US of blackmail and adding a ‘mistake on top of a mistake’ as Wednesday deadline for latest levies looms
China’s government says it will “fight to the end” if the US continues to escalate the trade war, after Donald Trump threatened huge additional tariffs in response to China’s retaliatory measures.
On Tuesday, China’s commerce ministry accused the US of “blackmail” and said the US president’s threats of additional 50% tariffs if Beijing did not reverse its own 34% reciprocal tariff were a “mistake on top of a mistake”.
Markets on edge as Trump and China exchange tariff threats – business live
Beijing says US threat to escalate tariffs against China is a ‘mistake on top of a mistake’ and amounts to blackmail
South Korea’s government has approved Tuesday 3 June as the date for a snap presidential election, following the removal from office of Yoon Suk Yeol last week over his declaration of martial law.
The move comes after Yoon’s removal after the country’s constitutional court voted unanimously on Friday to uphold parliament’s decision to impeach him over his ill-fated declaration of martial law in December.
Bank ‘should cut UK interest rates to at least 4% in May amid tariff turmoil’
Ex-Bank of England deputy governor Charlie Bean says cut of 0.5 points needed because of ‘crazy situation’ in US
The Bank of England should use its meeting next month to cut interest rates by at least half a percentage point to 4% in response to the financial turmoil created by Donald Trump’s trade tariffs, the former deputy governor Charlie Bean has said.
He believes an aggressive strategy is needed to combat the fallout from Trump’s tariff war, which has knocked trillions of pounds off global stock markets, undermining business and consumer confidence.
Mexico eyes more fracking as Trump sparks fear over US gas reliance
Claudia Sheinbaum, a former climate scientist, explores shale to ease dependence on unpredictable American president