US stocks and dollar tumble as Trump fails to soothe economic fears
Investors warn 145% duties on US imports from China to hit growth even as president rolls back other levies
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Donald Trump bends to the power of the markets
But trade war with China and tariffs on most US imports still risk great harm
US tariffs on China now 145%, as Trump’s policy branded ‘worst self-inflicted wound’ by any successful economy – business live
Total combines Trump’s ‘reciprocal’ tariffs of 125% and the 20% fentanyl levy, while former US treasury chief criticises Trump’s economic policy
China and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.
In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said.
Investors in Trump’s America can no longer see around corners
Regular guidance from executives on the near-term path of profit just got more elusive
Trump’s about-face on tariffs reveals chaos at the core of his presidency
Time will tell how much damage has been inflicted on the credibility of Trump’s economic policy and administration
Donald Trump’s climbdown on Wednesday from the most draconian aspects of his tariff regime has uncovered a damning picture of chaos at the heart of his presidency without necessarily alleviating their most painful effects.
The president’s landmark “liberation day” unveiling of tariffs in the White House Rose Garden on 2 April was supposed to be symbolic gateway to his promised “golden age of American greatness”; instead, it triggered a cascade of global market crashes that prompted warnings of a recession, or even a 1930s-style depression, while Trump brushed it all off as temporary “disruption”.
US shale sector in peril as tumbling oil price rattles drillers
Trump trade war and Opec output surge create toughest challenge since the pandemic, executives say