S&P affirms US credit rating as Trump tariffs boost government revenues
Rating agency expects income from aggressive trade policy to offset tax and spending changes
Rating agency expects income from aggressive trade policy to offset tax and spending changes

US President Donald Trump announces levies on dozens of countries and formalises some trade deals

President’s levies now seen as a way to offset tax cuts and keep a lid on government borrowing

Rerouting of supply chains can lead to significant reductions in emissions

Trump’s tariff war brings with it unpredictability and a consequent loss of confidence

US president’s latest ‘reciprocal’ levies hit many countries that had struck deals with Washington

Wave of US trade levies arrive, Bank of England sets interest rates, and Japan observes 80th anniversary of atomic bomb drops