In Lesotho, the small southern African nation that is among the countries hardest hit by President Trump’s new tariffs, business owners were meeting on Wednesday to strategize their response. For a country with an economy worth just $2.1 billion, few options are on the table. Mr. Trump imposed a 50 percent tariff on Lesotho, owing … Read more
Delta Air Lines on Wednesday became one of the largest American companies to warn that President Trump’s escalating trade war was weighing on its business and the global economy. In an interview with CNBC on Wednesday, Delta’s chief executive, Ed Bastian, said a recession was possible as companies pulled back spending. “Everyone’s being prepared for … Read more
A sharp sell-off in U.S. government bond markets has sparked fears about the growing fallout from President Trump’s sweeping tariffs and retaliation by China, the European Union and others, raising questions about what is typically seen as the safest corner for investors to take cover during times of turmoil. Yields on 10-year Treasuries — the … Read more
In Lesotho, the small southern African nation that is among the countries hardest hit by President Trump’s new tariffs, business owners were meeting on Wednesday to strategize their response. For a country with an economy worth just $2.1 billion, few options are on the table. Mr. Trump imposed a 50 percent tariff on Lesotho, owing … Read more
Beijing on Wednesday aimed the latest blow in the escalating trade war between the United States and Washington, with plans to raise new tariffs on all American imports by 84 percent within hours. China’s Ministry of Finance announced that it would match a 50 percent tariff on all imports from China that President Trump announced … Read more
The Chinese government on Wednesday issued a lengthy denunciation of American trade policies, accusing the United States of years of protectionism and of violating the trade agreement the two sides had negotiated late in President Trump’s first term. The document was issued by Beijing’s cabinet information office several hours after Mr. Trump raised to 104 … Read more
The parallels between President Trump and Liz Truss, Britain’s shortest-serving prime minister, are growing starker. Ms. Truss triggered market turmoil in 2022 after she proposed sweeping tax cuts that she proposed to pay for with massive government borrowing. Ms. Truss was ultimately doomed by fears of a credit crisis after yields on British government bonds … Read more
The European Union plans to vote on Wednesday afternoon on its first retaliation measures in response to President Trump’s tariffs, moving closer to placing increased duties on a range of manufactured goods and farm products that would take effect in phases starting next week. The list up for consideration is a slightly trimmed down version … Read more
Chinese censors appeared to be carefully curating public discussion about the U.S. tariffs that took effect on Wednesday. They promoted criticism of the United States, while seemingly playing down the specifics of how President Trump’s move would effectively increase import taxes on Chinese goods to 104 percent. On Weibo, a popular social media platform, several … Read more
Behind President Trump’s decision to hit some of America’s largest trading partners with stiff tariffs is his fixation on the trade deficit that the United States runs with other nations. But many economists say that is a poor metric for judging the quality of a trade relationship. The steep tariffs, which went into effect on … Read more