Rolling coverage of the latest ecoonomic and financial news
* Trump vows tariffs on Mexico and Canada and deeper tariffs on China
Halfords could raise prices for car servicing and repair to help it cope with a £23m cost increase after the autumn budget, and called for more business support from the government.
The cycling and motoring retailer, which has more than 12,000 employees, reported on Tuesday that the budget measures add £23m of direct labour costs, of which £9m was already included in its planning assumptions.
Trump’s promise overnight to implement tariffs immediately on taking office in January were no great surprise, though the fact that he is taking initial aim at Mexico and Canada as much as China may have surprised some, though it is in line with his narrative during the election.
Still it serves as a reminder that markets will have to reattune themselves to his frequently erratic approach to policymaking, and his likely hefty reliance on executive orders where possible to circumvent the legislature. Continue reading…
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