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For a country he recently said “no one has ever heard of”, President Donald Trump singled out Lesotho in southern Africa for some pretty rough treatment in his long list of “reciprocal” tariffs. The “mountain kingdom” of 2.3mn people, which is entirely surrounded by South Africa, was one of several countries, some among the poorest…
Stay informed with free updates Simply sign up to the Oil myFT Digest — delivered directly to your inbox. Oil prices tumbled on Thursday as Opec+ unexpectedly announced plans to boost production just as sweeping US tariffs stoked fears of a global economic slowdown. Eight Opec+ members, including Saudi Arabia and Russia, said they would…
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Well, at least we now know what Donald Trump will do with tariffs, until he is seized by another whim. Perhaps it was better when we didn’t. The “reciprocal” tariffs announced on so-called…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple lost more than $250bn in market value on Thursday, making it one of Wall Street’s biggest casualties of Donald Trump’s tariff blitz despite chief executive Tim Cook’s efforts to court the administration. Shares in…
Donald Trump’s latest tariff attack on China could imperil any possible “grand bargain” between Washington and Beijing and drive a hard decoupling between the world’s two largest economies, analysts said. Levies on Chinese exports are set to rise to 65 per cent or higher, after the US president added 34 per cent reciprocal tariffs, on…
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The writer is director of economic policy studies at the American Enterprise Institute “Liberation day” has arrived. Unfortunately, it threatens to liberate Americans from robust real wage growth, low unemployment and a good…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US consumers face even steeper rises in the price of coffee and chocolate as a result of US President Donald Trump’s new tariffs on the world’s largest producers. The levies, which will hit coffee imports…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The dollar slumped on Thursday and global stock markets dropped as investors rushed to price in growing damage to the world’s biggest economy from Donald Trump’s trade war. The dollar fell 2.4 per cent against…
Global stocks fell and government bonds rallied on Thursday after Donald Trump’s sweeping new tariffs left the world on the brink of a full-blown trade war. Some content could not load. Check your internet connection or browser settings. The benchmark Stoxx Europe 600 index was down 1.8 per cent by late morning, after a steeper…
Donald Trump’s “liberation day” tariffs present a severe risk to a US economy that is already rapidly losing momentum, with economists warning of surging prices for households and a growing risk of recession in the wake of the president’s announcements. The combination of a baseline duty of 10 per cent with double-digit top-up tariffs on…
