Browsing: US tariffs Live

The United States and China have agreed to a temporary reduction in the tariffs they impose on each other’s imports, marking a significant—if short-term—easing in trade tensions between the two economic powers.

Cliff Notes – UK-US trade deal ‘isn’t worth the paper it’s written on Nobel laureate Joseph Stiglitz criticises the UK-US…

Donald Trump has announced he will hit foreign-made movies with 100% tariffs sending shockwaves through the entertainment industry. Trump says the US film industry is dying as filmmakers have been leaving Hollywood for cheaper destinations such as Canada and the UK. 

China’s Commerce Ministry is evaluating the Trump administration’s approaches for trade talks, but one-sided tariffs up to 145% are seen as a significant barrier, undermining trust between the two nations.

Apple will source most iPhones from India and iPads from Vietnam to avoid the effects of tariffs imposed by Donald Trump, aiming to maintain consumer prices in the US.

The “de minimis” rule exempts low-value imports from customs tariffs, with thresholds varying by country (£135 in the UK, $800 in the US).

The ongoing choas from Trump’s tariffs are back on the UK front pages as the IMF cuts global growth rates and confirms the UK is set to be amongst the hardest countries hit. The US has received the biggest downgrade amongst advanced economies as anxiety drives gold up amid Trump’s constant attacks on the Federal Reserve boss Jay Powell. There are concerns over how independent the central bank is and general worries over the state of the US economy. 

Global stock markets, including the Dow Jones and Nasdaq, surged by over 2% following comments from US Treasury Secretary Scott Bessent regarding potential de-escalation in trade tensions with China, alleviating investor fears.

Asian markets experienced a significant uptick as President Donald Trump declared his intention not to dismiss U.S. Federal Reserve Chair Jerome Powell. This comment has eased investor concerns around monetary policy continuity amid previous threats to replace Powell.

The IMF has significantly downgraded the UK’s growth forecast for this year to just 1.1%, citing the adverse impacts of the global trade war and rising inflation.