Trump announces fresh wave of US tariffs – Almost all of Thursday’s headlines are dissecting the tariffs announced by the US president yesterday. The UK was hit with a baseline 10% tariff, whilst the EU (who are preparing to retaliate) were hit with a 20% levy – some countries fared even worse with fees as high as 40%.

The UK newspapers generally express relief that the tariffs were not as bad for the UK as expected, with right-leaning media highlighting Brexit’s role in saving Britain from the 20% levy for the EU. The tariffs are set to come into effect on Saturday, with some headlines reporting there is still wiggle room for a deal to be carved out between the UK and US before the tax comes into effect.

Thursday’s headlines are, of course, dominated by yesterday’s news that the US will introduce a baseline 10% tariff on the world, including the UK and other countries, and are facing far higher tariffs, including the EU being hit with a 20% levy. 

The headlines are in general agreement that the UK being hit with the baseline tariff is far less severe than what was expected, and there could be some wiggle room as the tariffs don’t come into effect on Saturday.