Donald Trump thrives on emergencies. He cried havoc on the very first day of his second term, declaring a national emergency caused by an “invasion” of “illegal aliens” from Mexico. He has since invoked emergencies more than any president since the passage of the National Emergencies Act in 1976. Next Wednesday, he faces another of his own making, as the US supreme court hears oral arguments on whether his globe-shaking signature economic policy – tariffs – is legally valid. Trump sees emergency everywhere. From the flow of illegal drugs and…
Tag: US economy
Five key takeaways from Donald Trump’s meeting with Xi Jinping
As Donald Trump flew out of Busan airport in South Korea after his meeting with China’s Xi Jinping, the US president sounded upbeat about progress made during less than two hours of talks. Trump discussed the outcome of the meeting, which he described as a 12 on a scale of one to 10, with “an outstanding group of decisions made”. He added: “We’ve come to a conclusion on many important points.” A Chinese statement quoted Xi saying the two countries had “good prospects for cooperation”, and relations had maintained “overall…
‘We don’t always see eye to eye’: Xi and Trump on crunch trade talks – video
Donald Trump said the US and China had agreed ‘to a lot of things’ during trade talks in South Korea, and would be having further discussions. The US president described Xi Jinping as ‘distinguished and respected’, while the Chinese leader said: ‘We do not always see eye to eye with each other, and it is normal.’ Trump hailed the trade talks as ‘amazing’, saying the dispute over the supply of rare earths had been settled and that he would visit China in April The Guardian
Trump news at a glance: layoffs for federal workers begin and president threatens China with tariffs
Mass firings of US federal workers have begun, as Republicans work to exert pressure on Democrat lawmakers to end a government shutdown. The White House budget office said the layoffs were “substantial”, with unions for federal workers taking the matter to court. President Donald Trump said of the job losses “it’ll be a lot” and suggested those losing their jobs would be in areas that were “Democrat oriented”. The government shutdown comes as the US president has revived the trade war with China, this time promising to increase tariffs on…
Chairman Trump: has the US turned its back on free-market capitalism?
When Ronald Reagan became the first US president to address China’s Great Hall of the People in 1984, he did not waste an opportunity to school his audience on the benefits of the American way. He boiled down his central economic ideology, and that of his Republican party – that governments should get out of the way, allow companies, industries and markets the space the thrive, without intervention – into a simple mantra: trust the people. “These three words are not only the heart and soul of American history, but…
US-China trade truce deadline looms threatening escalation of economic tensions
A trade truce between the US and China was set to expire on Tuesday, threatening an escalation of economic tensions between the world’s two largest economies. Chinese officials said they hoped the United States would strive for “positive” trade outcomes on Monday, as the 90-day detente reached between the two countries last month was due to expire. “We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state … and strive for positive outcomes on the…
Inside China’s fast-fashion factories as a US trade war looms – podcast
Ever since Donald Trump came to power, China has been threatened by a trade war – with tariffs on its products into the US at one point set at an extraordinary 145%. In May, however, the two countries agreed to a partial truce – one that is expiring on Tuesday 12 August. As the Guardian’s senior China correspondent, Amy Hawkins, explains to Nosheen Iqbal, for now there is little sign of an imminent deal, though an extension of the truce, at least, is possible. So she heads to Guangzhou, the…
US and China poised to extend tariff truce after failing to find resolution at talks
US and Chinese negotiators have agreed in principle to push back the deadline for escalating tariffs, although America’s representatives said any extension would need Donald Trump’s approval. Officials from both sides said after two days of talks in Stockholm that while had failed to find a resolution across the many areas of dispute they had agreed to extend a pause due to run out on 12 August. Beijing’s top trade negotiator, Li Chenggang, said the extension of a truce struck in mid-May would allow for further talks, without specifying when…
US and China hold trade talks after Donald Trump eyes ‘world tariff’ – business live
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As Trump’s tariff regime becomes clear, Americans may start to foot the bill
Burying the hatchet with Brussels, Donald Trump – flanked by the leader of the European Commission – hailed a bold new era of transatlantic relations, an ambitious economic pact, and declared: “This was a very big day for free and fair trade.” That was seven years ago. And then on Sunday, the US president – flanked by a different leader of the European Commission – hailed another new era of transatlantic relations, another economic pact and declared: “I think it’s the biggest deal ever made.” Trumpian hyperbole can typically be…