UK stagflation fears rise after grim growth and inflation forecasts; Hong Kong to complain to WTO over US tariffs – business live

Rolling coverage of the latest economic and financial news, as UK economic picture darkens…and house prices hit record high

Hong Kong’s appeal to the WTO (see earlier post) comes as Donald Trump’s new trade war is further blurring the lines between Hong Kong and Beijing.

This is threatening to erode the city’s main selling point as a global financial hub, reports Bloomberg, explaining:

When Trump slapped a 10% levy on China this week, that action for the first time also applied to Hong Kong goods, after the president in 2020 signed an executive order to remove the city’s special privileges.

One day later, the US Postal Service put a ban on incoming Chinese parcels that also swept up the commerce center, before reversing course hours later.

“Early indicators of housing demand point to another month or two of decent performance for the housing market ahead of the Stamp Duty changes.

But over 2025 as a whole, we think that the housing market will show only a modest improvement, given the Bank of England’s gradual and cautious approach will see interest rates fall slowly against a backdrop of stretched housing affordability.”

Topics

US Postal Service briefly halts packages arriving from China and Hong Kong

Normal service resumes after initial suspension, in latest episode of growing trade war between the US and China. US politics live – latest updates The US Postal Service briefly suspended ...
The Guardian - 1d
USPS says it will accept packages from China and Hong Kong after temporary suspension

The USPS said on Wednesday that it will "continue accepting all international inbound mail and packages from China and Hong Kong Posts." It comes after a temporary suspension was announced Tuesday. ...
CBS News - 1d
USPS says packages from China, Hong Kong will be accepted after suspension

The USPS halted an order to suspend incoming packages from China that threatened to severely disrupt trade between the two major economies.
CBS News - 1d
US, EU and UK stock markets hit by global trade war fears as JPMorgan says Trump administration may be ‘business unfriendly’ – business live

European markets fall as Trump says EU tariffs will ‘definitely happen’; stocks and cryptocurrencies tumble in Asian trading hours. Trump says EU tariffs will ‘definitely happen’ as Mexico, ...
The Guardian - 3d
US prices of gas, food, electronics set to rise after Trump's tariffs

President Trump’s tariffs on Canada, Mexico and China are expected to dramatically increase U.S. prices of everyday items from gas to groceries. NBC’s Christine Romans joins TODAY on what American ...
NBC News - 3d
Trump faces backlash from business as tariffs ignite inflation fears

Experts warn aggressive trade measures against US allies will hurt consumers and roil supply chains
Financial Times - 4d
Small UK businesses complain of being caught unawares by EU ‘red tape’

New safety regulations have led SMEs to stop sales to bloc and Northern Ireland while they work out how to comply . Small businesses are warning they have had to pause selling their products in the ...
The Guardian - 6d
UK economy’s 0.1% growth fails to hit forecasts

November expansion is first since August as pressure on chancellor Rachel Reeves to rebuild confidence grows
Financial Times - Jan. 16
Is US inflation set to rise further?

Market Questions is the FT’s guide to the week ahead
Financial Times - Jan. 12
Pound falls to lowest in over a year after UK borrowing costs rise

Economists have warned the rise could mean further tax hikes or spending cuts by the government.
BBC News - Jan. 9