ONTRADE Forex

Trump’s sweeping global tariffs, including 104% against China, due to take effect – business live

Trump’s sweeping global tariffs, including 104% against China, due to take effect – business live

Stocks set for another bumpy day after China refuses to drop its 34% levy in response to US president’s threats

Hello and welcome to our business blog – with Donald Trump’s global tariffs due to take effect on Wednesday.

The US president appears poised to push on with measures against imports to the US from almost every country in the world. The US will also go ahead with imposing a staggering 104% tariff on China from 12.01am ET (12.01pm China Standard Time) on Wednesday, the White House confirmed after Beijing did not lift its retaliatory tariffs on US goods by Trump’s Tuesday noon deadline.

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US stock markets expected to recover after Trump drops tariffs on mobiles

US stock markets expected to recover after Trump drops tariffs on mobiles

Exemption, seen as a climbdown, includes laptops and chips, and is likely to help firms such as Apple and Nvidia

US stock markets were expected to stage a recovery on Monday after Donald Trump excluded imports of smartphones and laptops from his tariff regime late on Friday night.

Shares in Apple and chip maker Nvidia were on course to soar after tariffs on their products imported into the US were lifted for 90 days.

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