Donald Trump is teaching the world a lesson, but not the one he thinks. The attack on Iran was meant to be a dazzling display of military supremacy. It has instead illuminated chinks in the US’s armour. The US president’s formidable arsenal cannot summon up an insurrection from Iran’s tyrannised and leaderless opposition. It cannot force merchant ships to run a gauntlet of missile and drone attacks in the strait of Hormuz. The government in Tehran and the facts of geography that give it leverage over global trade are unchanged.…
Tag: Trump tariffs
Trump claims he has ‘absolute right’ to impose new tariffs after supreme court blow
Donald Trump has claimed he has “the absolute right” to impose new tariffs after the US supreme court ruled many of the import duties he imposed last year were illegal. The president attacked the court in a late night broadside on Sunday, accusing it of having “unnecessarily RANSACKED” the US – and failing to show him sufficient loyalty. In February, the supreme court found that a 1977 law designed to address national emergencies did not provide the legal justification for many of the tariffs the Trump administration had put on…
China overturns death sentence of Canadian in sign of diplomatic thaw
China has overturned the death sentence of Canadian Robert Lloyd Schellenberg, a Canadian official said on Friday, in a possible sign of a diplomatic thaw as prime minister Mark Carney seeks to boost trade ties with Beijing. Schellenberg’s lawyer Zhang Dongshuo, reached in Beijing on Saturday, confirmed the decision was announced on Friday by China’s highest court. Schellenberg was detained on drug charges in 2014 before China-Canada ties nosedived after the 2018 arrest in Vancouver of Huawei chief financial officer Meng Wanzhou. That arrest infuriated Beijing, which detained two Canadians…
As US influence wanes, the Chinese trade surplus strangles manufacturing across the globe
When the Canadian prime minister, Mark Carney, took to the podium at the World Economic Forum in Davos last week to lament how “great economic powers” were dismantling the international order, it seemed clear that he was talking about the United States. He might have been talking about China as well. Not a week earlier, Beijing had revealed that China’s trade surplus ballooned by 20% in 2025, to $1.2tn. Despite Donald Trump’s wall of tariffs that crashed Chinese sales to the US, its overall exports expanded more than 5%. Sales…
Trump threatens Canada with 100% tariff over possible deal with China
Donald Trump on Saturday said he would impose a 100% tariff on all Canadian imports if the North American country makes a trade deal with China. Beside that tariff threat, another Trump foreign policy maneuver to make news on Saturday involved the president announcing the US had taken the oil that was on recently seized Venezuelan tankers. The US president wrote on social media that if the Canadian prime minister, Mark Carney, “thinks he is going to make Canada a ‘Drop Off Port’ for China to send goods and products…
China reports record trillion-dollar trade surplus despite Trump tariffs
China has reported a strong export run in 2025 with a record trillion-dollar surplus, as its producers brace for three more years of a Trump administration set on slowing the manufacturing powerhouse by shifting US orders to other markets. Beijing’s resilience to renewed tariff tensions since Donald Trump returned to the US presidency last January has emboldened Chinese firms to shift their focus to south-east Asia, Africa and Latin America to offset US duties. With Beijing looking to exports to counteract a prolonged property slump and sluggish domestic demand, the…
China threatens to retaliate over Trump’s 25% tariff on countries trading with Iran
US president announces measure in response to situation in Iran, which is facing anti-government protests Business live – latest updates US politics – live updates China has threatened to retaliate against Donald Trump after the US president said he would impose 25% tariffs on countries that trade with Iran as a way of punishing Tehran for its brutal crackdown on the biggest anti-regime protests in years. Liu Pengyu, the spokesperson for the Chinese embassy in Washington, said Beijing would “take all necessary measures to safeguard its legitimate rights and interests”…
Influx of cheap Chinese imports could drive down UK inflation, economists say
As Trump’s tariffs take effect, Britain is likely alternative destination for cars, telecoms and sound equipment Business live – latest updates The UK is poised for an influx of cheap Chinese imports that could bring down inflation amid the fallout from Donald Trump’s global trade war, leading economists have said. After figures showed China’s trade surplus surpassed $1tn (£750bn) despite Washington’s tariff policies hitting exports to the US, the Bank of England said the UK was among the nations emerging as alternative destinations for the goods. Continue reading… The Guardian
China’s record trade surplus reveals its biggest strength – and hidden weakness
A boom in exports that has pushed China’s trade surplus past $1tn for the first time reveals the extent to which its economy is still overwhelmingly reliant on foreign markets – and the difficulty figures like Donald Trump will have in trying to rebalance global trade. Data released on Monday shows that in the first 11 months of this year, China’s trade surplus in goods was $1.076tn. The record trade surplus comes even as exports to the US have plummeted, a reflection of the bruising US-China trade war that, despite…
Trump’s plan to impose semiconductor tariffs may be delayed, sources say
US officials are privately saying that they might not levy long-promised semiconductor tariffs soon, potentially delaying a centerpiece of Donald Trump’s economic agenda. Officials relayed these messages over the last several days to stakeholders in the government and private industry, according to two people with direct knowledge of the matter and a third person briefed on the conversations. A fourth person following the matter also said the administration was taking a more cautious approach to avoid provoking China. The discussions have not been previously reported. Trump aides are taking their…