UK borrowing costs soar to highest level since 1998
Jump in yields on 30-year gilts came as investors dumped US Treasuries after concluding country had ‘lost control of its senses’
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Trump tariffs spark US government debt sell-off
The cost of borrowing for the US government rose as confidence in the economy waned
China retaliates with 84% tariffs as Trump says ‘great time to move companies to the US’ – business live
Stock markets down in UK and across Europe after steep declines in Asia, while turmoil spreads to bond market
- China announces 84% tariffs on all US goods in response to Trump’s 104%
- Bank of England warns Trump tariffs threaten global growth and raise risk of ‘severe shocks’
Today’s tariffs follow Trump’s 10% tariff on all imports from many countries, including Australia, which came into effect at the weekend.
US customs agents began collecting the unilateral tariff at US seaports, airports and customs warehouses on Saturday. Today’s measures are higher levies on goods from 57 larger trading partners.
Trump tariffs spark shock US bond sell-off
The cost of borrowing for the US government rose as confidence in the economy waned