Spain unveils €11bn plan to reach long-delayed Nato defence spending target

Spanish PM says ‘industrial and technological plan’ will ensure country commits to spending 2% of GDP on defence

IMF warns of ‘major negative shock’ from Trump’s tariffs

Global lender cuts forecasts for every major economy, with UK expected to grow by 1.1% this year, down from 1.6%

Ahead of a global summit in London comes a warning that lessons on energy security have not been learnedBusiness live – latest updates

As Rachel Reeves heads to US for IMF meetings, stance appears unaltered despite chaos unleashed by White House

Chancellor supports economic ties with Beijing as she prepares to fly to US next week for trade deal talks

Jensen Huang causes stir on social media and is reported to have met founder of AI company DeepSeek

Exclusive: civil servants beef up security rules for sensitive negotiating papers over fears posed by hostile US trade policy

World Trade Organization says trade between US and China is expected to plunge by 81% in ‘decoupling’

Delegation of European parliament lawmakers raise concerns about ‘number of worrying developments’ concern country’s compliances with EU values

Shares in Bunzl, which provides everyday goods for other firms, plunge more than 25%

Vice-president says Donald Trump ‘loves’ the UK and there is good chance of reaching mutually beneficial agreement

Chinese customs official says trade has diversified away from US in recent years and plays up ‘vast domestic market’

Approach to expanding trade has been castigated for allowing Beijing to invest heavily in vital UK infrastructure

Unctad says many countries targeted with high tariff rates are unlikely to be a threat to US

Effects could tip one into recession and undermine other’s fragile economy but prospects for rapprochement are not hopeless