Adam Posen, former Bank of England policymaker, compared the tactics to Johnson and Nixon refusing to back down

A leading US economist has likened Donald Trump’s tariff battle with China to the Vietnam war, arguing that both sides will be caught in a quagmire and unable to find a face-saving exit.

Adam Posen, the head of the Peterson Institute in Washington and a former Bank of England policymaker, spoke to the Guardian after penning an article for the US magazine Foreign Affairs. He said Trump’s tactics had “echoes of presidents Johnson and Nixon in the Vietnam war, unable to believe that they wouldn’t win if they only upped the attacks, and unwilling to negotiate a real peace”.

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President will ease some duties on foreign parts in domestically manufactured cars, administration says

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Donald Trump will unveil plans to water down his sweeping tariffs for US carmakers on Tuesday by curbing some duties on foreign parts, granting a reprieve to an industry that warned his strategy would hike costs for American manufacturers by tens of billions of dollars.

The White House trailed the deal on Monday and while details were scarce, Trump appears to be preparing to reprieve auto giants operating in the US from the his aggressive trade strategy. Officials said he would sign an executive order later on Tuesday.

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Analysts trace a link between financial security and a troubling, increasingly devil-may-care, attitude to political risk

Steve Coogan wants ­people to see his new film, The Penguin Lessons, and think about how they might be living in a wealthy cocoon, disengaged from the world.

The film’s central character – a Briton teaching expat children in Argentina – rescues a penguin and tries to help local people persecuted by the rightwing government. Re-enacting a true story, Coogan is showing how it’s possible to be involved in local communities even when the protagonist is an outsider.

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First homeowners’ grants have long been the go-to policy by state and federal governments. And yet here we are in 2025 with a worsening housing affordability crisis

This week, the housing affordability crisis was solved when both the Labor and Liberal parties discovered that the key was to give people more money so they can bid a higher price for a home. Phew. Our long national nightmare is over.

Cripes. What a joke.

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