The value of the US dollar has fallen in recent days to a new three-year low following the uncertainty over the impact of the Trump tariffs on the global economy.
Browsing: Donald Trump
Trump backs down but will the MAGA crew accept it? probably not. For him this is a game of who can bear more pain, but is it the same for the MAGA crew.
Did anyone notice Trump and Netanyahu press conference, it went a bit under radar with all the tariff talk but not one single journalist had the courage to ask about the Red Crescent massacre.
This week Jeremy Corbyn and 30 MPs have written to the Prime Minister demanding that there should be an independent inquiry into the red crescent massacre. This deserves our support.
And imagine if there was no drama from the US tariffs, what would we be doing? hmmm!
Despite opening well this Friday morning, the three main stock indexes in Europe are now down after China announced that it will retaliate further to US tariffs – after the Trump administration confirmed the tariff on China is now 145%.
Harriet Harman advises Sir Keir Starmer to clearly communicate that Donald Trump’s tariffs on UK goods are incorrect and unjustified.
Friday’s UK headlines cover a variety of domestic and international stories. There is, of course, continued coverage of the fallout from the Trump tariff debacle amid claims of market manipulation and calls for an investigation into potential insider trading.
Royal news continues to be highlighted on the front pages – in print and online – with Prince Harry making a surprise visit to Ukraine and Prince William talking football after Villa’s 3-1 loss. Charles and Camilla are pictured on several tabloids after marking their 20th wedding anniversary with a state visit to Italy, where the pair exercised their soft power in a bid to rebuild relations with the rest of Europe.
The UK is set for another sunny day with temperatures reaching over 23C in some parts – and in Scotland, there are warnings of potential wildfires.
The Trump administration has initiated a controversial move to classify over 6,000 living immigrants as deceased, effectively cancelling their Social Security numbers. This action is designed to compel these individuals to leave the United States.
Tahawwur Hussain Rana, a Pakistani-born Canadian, was extradited from the US to India and accused of being a key conspirator in the 2008 Mumbai terror attacks that resulted in over 160 deaths.
The US aims for free and priority access to the Panama Canal, while Panama insists on its sovereignty, complicating negotiations amidst ongoing tensions.
Donald Trump announced a temporary 90-day suspension of certain tariffs less than a day after they came into effect. Many see it as the president backing down from his policy after US government bonds were being sold off, and the president likely under pressure from his rich and powerful friends (Elon Musk).
Whilst he came back from the brink for most countries he had hit, all countries (interestingly, Russia was not hit with tariffs) still face a blanket 10% tariff.
The administration intensified its stance on China by elevating tariffs on Chinese imports to 125%, underscoring a complex and strained U.S.- China trade relationship.
China responded firmly to the increased tariffs, maintaining a resolute position and implementing retaliatory measures. The Chinese Commerce Ministry announced an 84% tariff on all U.S. goods, signaling Beijing’s unwillingness to yield to U.S. pressure. This escalation has heightened concerns about a prolonged trade conflict between the world’s two largest economies.
The financial markets have reacted with notable volatility to these developments. Following the announcement of the tariff suspension, global markets experienced a relief rally. However, this optimism is tempered by underlying uncertainties, as analysts caution that the fundamental issues driving the trade tensions remain unresolved. The bond market, in particular, has exhibited signs of distress, with the U.S. 10-year Treasury yield climbing from under 4% to 4.5%, reflecting diminished confidence in U.S. fiscal stability.
Amid these economic fluctuations, there have been murmurs of potential market manipulation.
The current trajectory of U.S. trade policy, characterized by abrupt shifts and escalating tariffs, has prompted warnings from economic leaders. JPMorgan Chase CEO Jamie Dimon cautioned that the ongoing trade war could precipitate a U.S. recession this year.
Donald Trump has backed down on his tariffs (higher than the baseline 10%) on countries that did not retaliate against the levies. The US president announced via social media that there would be a 90-day pause on those tariffs and they would instead be dropped to the blanket 10% rate. But since China did retaliate, Trump announced that the tariffs on China would be hiked to 125%.
Much of the global media sees the announcement of Trump backing down from the trade war he started, likely amid US government bond sell-offs.
The global financial markets are experiencing a downturn due to US tariffs imposed by President Trump, raising fears of an escalating trade war and potential global recession.
Tuesday’s newspapers are, unsurprisingly, focused on the market chaos caused by last week’s US tariffs. Several headlines look at the growing trade war between the two largest economies in the world as China retaliated with their own tariffs on the US – which led to Donald Trump telling them to back down from their tariffs or face a further 50% tariff on Wednesday. China has said it won’t back down.
Donald Trump announced that the US is engaged in direct talks with Iran regarding its nuclear programme, stating that Iran would face “great danger” if negotiations fail.
China has responded to President Trump’s threat of a 50% tariff on its imports by stating it will “fight to the end” and take countermeasures to protect its interests. The Commerce Ministry condemned the U.S. actions as “completely groundless” and labelled them as unilateral bullying.
US correspondents Mark Stone and David Blevins addressed various topics, including the implications of Trump’s “Liberation Day” tariffs on American consumers.
Cliff Notes The artist Sarah Boardman claims her business is at risk after Donald Trump publicly criticised her official portrait of him, stating it is…
Cliff Notes Thousands participated in nationwide “Hands Off!” protests against Donald Trump and Elon Musk, with around 1,200 demonstrations organised across all 50 states, including…
Friday’s UK headlines are similar to headlines from around the world: the fallout from Donald Trump’s tariffs after “trillions” have been wiped off the global stock markets.
On Wednesday, Trump announced a baseline tariff on almost every country in the world of at least 10% – whilst some countries face much higher levies, with the EU being hit with 20%.
Since the announcement, global markets have experienced significant declines, with both the US and European markets reporting their worst one-day losses since the COVID-19 pandemic and raising concerns about a potential recession and international retaliation. Economists are warning of a ‘spiral of doom’, suggesting that retaliatory measures could lead to further economic destabilisation.
Elsewhere, a probe into the bitter dispute surrounding Prince Harry’s charity Sentebale. The Charity Commission said it had opened a case to examine “concerns raised” about Sentebale, following claims made by its head, Sophie Chandauka. Prince Harry has said he hopes the watchdog will “unveil the truth”.
US President Donald Trump has dismissed at least six National Security Council officials, including David Feith and Brian Walsh, following a meeting with far-right activist Laura Loomer.
Danish Prime Minister Mette Frederiksen has unequivocally rejected President Trump’s calls for the US to take control of Greenland, emphasising that the matter impacts the global order established over generations.
Global stock markets experienced significant declines following President Trump’s announcement of sweeping tariffs, including a 10% tax on imports from the UK.
Lesotho faces the highest import tax from US tariffs, with a 50% levy on goods, significantly impacting its textile industry.
More reaction from the global stock markets, world leaders and experts a day after Donald Trump announced global tariffs.
The UK is amongst some countries facing a baseline tariff of 10%