Woodford plots comeback with new investment service ‘W4.0’
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UN calls on Trump to exempt poorest countries from ‘reciprocal’ tariffs
Unctad points out that many countries targeted with high tariff rates are unlikely to be a threat to US
The UN’s trade and development arm, Unctad, is calling on Donald Trump to exempt the world’s poorest and smallest countries from “reciprocal” tariffs, or risk “serious economic harm”.
In a report published on Monday, Unctad identifies 28 nations the US president singled out for a higher tariff rate than the 10% baseline – despite each accounting for less than 0.1% of the US trade deficit.
Sky-high US-China tariffs are a mutual trade embargo that will hurt both sides
Effects could tip US into recession and undermine China’s already fragile economy but prospects for rapprochement are not hopeless
- Trump says exemptions on smartphones, electronics will be short-lived
- Business live – latest updates
Sky-high tariffs that now hang heavily over US-China trade mean, effectively, that they have declared a trade embargo on each other, normally an act of war. The economic consequences for both will hurt.
America’s $150bn (£113bn) or so of exports to China will fall away quickly, while China’s $440bn worth of exports to the US may drop by up to 75% over the next 18 months, unless some sort of negotiation happens. No one will be spared the effects.
Trump threatens new tariffs on smartphones days after exempting them
President Trump says Chinese-made electronics are simply moving to a different levy “bucket”.
Sony hikes PlayStation 5 price by 25% as Trump tariffs bite
PS5 digital price in UK would rise to £430 and €500 in Europe as Japanese games developer cites ‘challenging economic environment’
Sony has increased the price of its PlayStation 5 by 25% as the video game industry reels from the impact of Donald Trump’s tariffs.
The Japanese game developer said it had made the “tough decision” to raise the price of the console’s digital edition to £429.99 in the UK and €499.99 in Europe, starting from Monday. There will be no price change for the standard PS5, which comes with a disc drive.
UAE’s Sidara bids £242mn for Wood Group after offering £1.5bn last year
Offer underlines scale of fall in UK-listed group’s value as accounting and governance issues mount