Cruz says Republicans face midterms ‘bloodbath’ if tariffs trigger recession
Warning from Texas senator comes as president’s trade war sends US markets into tailspin
US stocks shed $5.4tn in two days as Trump’s tariffs stoke recession fears
China’s retaliation against Washington’s levies adds to sense of gloom across global markets
Hedge funds hit with steepest margin calls since 2020 Covid crisis
Banks ask clients to stump up additional money as global market sell-off knocks value of holdings
Canada and Mexico leaders take credit for dodging latest US tariffs
Washington’s two biggest trade partners still face a host of levies from their neighbour
Trump extends deadline for TikTok deal
Executive order gives video app’s Chinese owner another 75 days to find buyer before US ban hits
Trump’s aggressive push to roll back globalisation
The US president wants to unwind decades of economic integration. The risk of a 1930s-style global trade war is causing markets to panic
