The IMF has significantly downgraded the UK’s growth forecast for this year to just 1.1%, citing the adverse impacts of the global trade war and rising inflation.

The ongoing market chaos caused by Donald Trump’s tariffs continues to dominate the business newspapers, as do reports about inflation, job risks and a UK-US trade deal that comes at a price. Tech stocks suffered a Wall Street sell-off on Wednesday after Nvidia revealed new US controls on sales to China will wipe billions of dollars from its earnings. The US dollar has continued to weaken for the fifth straight day, amid real fears that the world could start the process of de-dollarisation.

The front page of the business newspaper The Financial Times this morning, April 16 2025,…