Zonal pricing could undermine Scottish energy sector, warns Forbes
Deputy first minister says uncertainty triggered by electricity market reforms could deter investment
Why is Trump ending the ‘de minimis’ tariff loophole on low-value imports?
Goods worth less than $800 will be subject to 120% levy meaning prices on Chinese exports will probably increase
At one minute past midnight on Friday, eastern time, a US tariff exemption that has fuelled the rise of companies such as Shein and Temu, and stocked the wardrobes of millions of Americans with cheap fast fashion and other household goods, closed. As part of Donald Trump’s flurry of tariffs on China, the US is closing a loophole that allowed low-value goods to be shipped into the US without paying any import fees. The “de minimis” loophole, known by the Latin phrase for “of little importance”, was “a big scam going on against our country”, the US president said on Wednesday. “We put an end to it.”
Santander deposes UBS as continental Europe’s most valuable bank
Swiss lender’s market capitalisation has been hit harder by US tariffs than Spanish rival
Trump tariffs will send global trade into reverse this year, warns WTO
World Trade Organization says trade between US and China is expected to plunge by 81% in ‘decoupling’
Donald Trump’s tariffs will send international trade into reverse this year, depressing global economic growth, the World Trade Organization has warned.
In its latest snapshot of the global trading system, the Geneva-based institution says it had previously expected goods trade to expand by a healthy 2.7% this year. As a result of Washington’s trade policy, it is now forecasting a 0.2% decline.