Carmaker’s third-quarter losses bigger than expected at £112m, with weak demand in China also a factor Business live – latest updates Aston Martin has slashed £300m from its investment plans after the British carmaker reported a bigger than expected loss in the third quarter because of Donald Trump’s tariffs and weak demand in China. The company said on Wednesday that losses before tax were £112m in the third quarter of 2025, a ninefold increase from £12m a year earlier. Continue reading… The Guardian
Tag: Trump tariffs
US and China agree ‘framework’ for trade deal ahead of Xi-Trump meeting
The US and China have agreed a framework for a trade deal just days before Donald Trump and Chines president Xi Jinping are due to meet. Treasury secretary Scott Bessent said the agreement, forged on the sidelines of the Association of south-east Asian Nations (Asean) summit in Malaysia on Sunday, would remove the threat of the imposition of 100% tariffs on Chinese imports starting on 1 November and include “a final deal” on the sale of TikTok in the US. Trump arrived in Malaysia on Sunday for the summit, his…
Trump says he would be open to meeting Kim Jong-un as he embarks on whirlwind Asia tour
Donald Trump has embarked on a tour of Asia where he is expected to take part in high-stakes trade talks with Chinese leader Xi Jinping – telling reporters that he was also open to a meeting with North Korean leader Kim Jong-un. Trump, who left Washington on Friday night, is set for a five-day trip to Malaysia, Japan and South Korea, his first to the region since taking office in January. Trump is set to meet Xi on the last day of his trip to seal a deal to end…
Trump administration considering curbs on exports to China made with US software
The Trump administration is considering a plan to curb a dizzying array of software-powered exports to China, from laptops to jet engines, to retaliate against Beijing’s latest round of rare earth export restrictions, according to a US official and three people briefed by US authorities. While the plan is not the only option on the table, it would make good on Donald Trump’s threat earlier this month to bar “critical software” exports to China by restricting global shipments of items that contain US software or were produced using US software.…
China’s economic growth slows amid Trump tariff war and property woes
China’s economy grew at its slowest pace in a year in the latest quarter amid a trade war with the US and long-running woes in its property market. Fragile domestic demand has left China’s economy heavily reliant on manufacturing and trade, at a time of mounting tensions with the Donald Trump administration. GDP rose by 4.8% year on year between July and September, down from the second-quarter growth rate of 5.2%. It expanded by 1.1% in the third quarter compared with the second, the same as the revised growth rate…
Shein warns on Trump tariff uncertainty after profits slip
Shein has reported a 20% rise in global revenues to $37bn (£27.7bn) but profits have fallen as the fast-fashion retailer faced increased costs, even before it felt the impact of recent changes to US tax laws. The Singaporean parent company of the rapidly growing retailer said pre-tax profits had fallen by 13% to $1.3bn last year from $1.5bn in 2023 after an increase in selling and marketing costs, according to new accounts. Shein is thought to be trying to list on the Hong Kong stock exchange after efforts to list…
China says it will ‘fight to end’ after US said it was trying to hurt world economy
China has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world’s two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides. China’s commerce ministry said on Tuesday that the US was “threatening to intimidate” with the prospect of new tariffs on Chinese exports, “which is not the right way to get along with China”. Its spokesperson said that China would “fight to the end” in trade talks. The comments came shortly after…
Markets rebound amid latest US-China tariff spat as traders look to possible ‘Taco trade’
Global stock markets have edged higher and cryptocurrencies rebounded amid signs that a new front in the US-China trade war may not be as severe as first feared. Tensions between Washington and Beijing escalated again on Friday and over the weekend, as Donald Trump threatened to impose additional US tariffs of 100% on China starting next month. The US president accused the country of “very hostile” moves to restrict exports of rare-earth minerals needed for American industry. Beijing said it would retaliate if Trump did not back down. However, Trump…
China warns US of retaliation over Trump’s 100% tariffs threat
Beijing has told the US it will retaliate if Donald Trump fails to back down on his threat to impose 100% tariffs on Chinese imports as investors brace for another bout of trade war turmoil. China’s commerce ministry blamed Washington for raising trade tensions between the two countries after Trump announced on Friday that he would impose the additional tariffs on China’s exports to the US, along with new controls on critical software, by 1 November. “Wilful threats of high tariffs are not the right way to get along with…
The IMF boss is right to say ‘buckle up’ – the global economy is facing multiple menaces
Little more than 48 hours passed last week between a warning from the IMF chief, Kristalina Georgieva, that “uncertainty is the new normal” and Donald Trump’s latest tariff onslaught – this time aimed at China. Markets plunged on Friday after Trump threatened to levy punitive additional tariffs of 100% on Chinese goods in retaliation for Beijing’s blocks on exports of rare earth minerals. The world’s finance ministers and central bankers will meet in Washington this week for the annual meetings of the IMF and World Bank. In her curtain-raiser speech…