Trump claims shrinking US economy ‘nothing to do with tariffs’ as GDP drop raises risk of recession – as it happened US on brink of ‘Trumpcession’ after jump in imports weighs down GDP… US president blames predecessor
Bank of England backs scheme to put more economics teachers into state schools Initial training to be offered in north-west England, as report shows disparities in access to the subject
Chinese e-commerce exports to US plummet by 65% in face of tariffs Temu and Shein among fast-fashion sites affected by drop in first three months of this year but sales in rise to EU
Aston Martin limits exports to US because of Trump tariffs Fellow carmakers Stellantis and Mercedes withdraw financial guidance for year over impact of trade war
China manufacturing activity plummets amid Trump tariff war Index of activity drops to lowest reading since December 2023 as a result of ‘sharp changes’ in international trading
Labour not protecting people, economy and homes from climate crisis, watchdog says Plans to protect UK from extreme weather are inadequate, Climate Change Committee says in scathing assessment
Trump reveals plans to ease tariff impact on US carmakers US president will curb some duties on foreign parts in domestically manufactured cars, administration says
Amazon denies planning to publish tariff costs on main site, as White House blasts ‘hostile and political’ act – as it happened Rolling coverage of the latest economic and financial news
Labour’s benefit cuts will cost UK economy billions, charity says Trussell report finds that higher levels of poverty mean Britain is losing out on £38bn a year of potential output
US tariff war hurting trade with China; M&S cyber-attack crisis continues; FTSE 100 rises for 11th day running – as it happened Rolling coverage of the latest economic and financial news
African diplomats urge UK government to back bill to speed up debt restructurings Countries are struggling to manage expensive loans, with much of debt transacted through London
Trump tariffs prompt slump in shipments to US ports Number of vessels scheduled to arrive at Port of Los Angeles next week is down by almost a third year on year
UK growth forecast to slow sharply as Trump tariffs push confidence to record low EY Item Club predicts GDP of only 0.8% this year as Ipsos poll shows three-quarters of Britons expect economy to get worse
Despite Pope Francis’s wishes, there’s little appetite for richer nations to help the poorest Trump’s tariffs will make it tougher for emerging economies to service loans but debt relief has fallen off the political agenda
Peter Dutton’s team has looted economic policies used to fight past wars – and it’s not working in 2025 As the Australian economy turns, the Coalition finds itself out of step with the electorate