Tariffs could destabilise UK financial system, Bank of England warns April 9, 2025 President Donald Trump’s global trade war is likely to destabilise the UK’s financial system, but the Bank of England has said banks will be able to cope with the shocks. The Bank’s policymakers also warned that the break-up of global trade would lower resilience and depress growth. The Financial Policy Committee (FPC), which monitors risks [...]
Method in Trump’s madness? What economic theory teaches us about tariffs April 9, 2025 Trump's tariffs have sent the world into a frenzy but there could be method yet. Economic theory shows that tariffs reduce prices, writes Paul Ormerod.
Rolls-Royce leads defence stock rebound amid tariff turmoil April 8, 2025 Following a tumultuous period triggered by Donald Trump’s sweeping tariff announcements, London’s financial markets showed signs of recovery on Tuesday. Defence stocks, in particular, emerged as notable gainers in leading the resurgence. Tariff-driven losses Trump recently imposed a 10 per cent tariff on British goods entering the United States. As part of a sweeping trade [...]
Asos and Boohoo stick to US closures despite Trump tariffs April 8, 2025 Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
Trump tariffs: No10 resists calls for ‘buy British’ campaign April 8, 2025 No10 has resisted calls for a “buy British” campaign in light of US tariffs, after the Chancellor slapped down the idea and suggested it could be a barrier to trade. Rachel Reeves warned against the UK becoming “inward looking” as she faced calls in the Commons to encourage the public to buy more British goods [...]
UK markets ‘functioning’ and banking system ‘resilient’, Reeves tells MPs April 8, 2025 Chancellor Rachel Reeves has spoken in the House of Commons on the “current economic situation” in the wake of US President Donald Trump’s sweeping new global trade tariffs. Addressing MPs ahead of Treasury questions, Reeves said the “implications have been reflected in the reaction that we have seen in global markets in recent days, which [...]
Reeves to meet US Treasury Secretary ‘shortly’ in trade deal race April 8, 2025 Chancellor Rachel Reeves has said she plans to meet US Treasury secretary Scott Bessent as President Donald Trump is yet to offer allies any reprieve from his tariff policy. The UK is facing ten per cent tariffs on its goods exports to the US, putting the government under pressure to agree a deal that protects [...]
Barclays: FTSE 100 giant’s shares bounce back after volatile trading April 8, 2025 Shares in Barclays rallied on Tuesday morning after a bruising week. The FTSE 100 lender has been caught in the chaos of Trump’s tariff onslaught. The firm was among top banks, including HSBC and Standard Chartered, which led the blue-chip index’s top fallers as markets sunk. Barclays stock was down nearly ten per cent after [...]
Businesses are struggling to model the impact of tariffs April 8, 2025 History and economic models provide little precedent for the impact of Trump’s tariffs, so the implications are worryingly unclear, says Annette Spencer It’s safe to say that tariff talk is no longer a mere backdrop to financial news, it’s shaking currency and financial markets. While governments are beginning to think about next steps and potential [...]
FTSE 100: Rolls-Royce shares rebound after losing over £10bn in value April 8, 2025 Shares in Rolls-Royce have started to rebound after losing more than £10bn in value since President Donald Trump’s tariffs were announced. The Derby-headquartered group’s shares had been trading at an all-time high of 812p in the middle of March before plummeting to 635p on Monday. They have now started to rebound and are trading at [...]