US-China trade tensions escalate as Trump approves $50bn of tariffs - business live squib

US President Donald Trump is pressing ahead with plans to impose tariffs on $50bn of Chinese imports, raising the prospect of a trade war between the world’s two largest economies

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday. The list will contain 800 product categories, down from 1,300 previously.

Trump no longer believes that Beijing’s influence over North Korea is a compelling reason to ease up on trade talks now that his administration has opened up a direct line of communication with the nuclear-armed country, [an] administration official said.

Tesco 1Q trading statement: Positive like-for-like sales growth for a tenth consecutive quarter – Group like-for-like sales improved to 1.8%.

Continue reading...
Scroll for more
Continue reading on The Guardian...