China’s retaliatory tariffs on US farm goods kick in, as trade war escalates – business live

Rolling coverage of the latest economic and financial newsGerman exports have tumbled, a sign of the troubles gripping Europe’s largest economy.Exports from Germany fell by 2.5% in January, new data shows, weaker than the 0.5% rise which economists expected.Today’s data confirms the bottoming out of Germany’s industrial slump. However, it is too early to call any substantial turnaround. Manufacturing capacity utilisation is at lows comparable only to those seen during the financial crisis and the initial lockdowns, order books shrank again in January with particularly weak foreign demand, and inventory levels remain at elevated levels. This still paints a rather unflattering picture of a nation known as an industrial powerhouse.With looming US tariffs on the EU and the expected modern version of ‘beggar-thy-neighbour’ policies by the new US administration, the short-term outlook for German industry remains anything but rosy. This is not just because of the potential impact on German exports, but more so the effect on German investments if companies were to move production to the US. Continue reading...