Tuesday’s headlines say chaos continues from US tariffs, especially since the US president announced that if China doesn’t retract its retaliatory tariffs, the US will impose a further 50% tariff on China – on top of the initial tariff slapped on the country. China has hinted that if Trump goes ahead with more tariffs on China, it will respond with even more tariffs, and it won’t back down.
Much of the coverage looks at the global stock markets and their reaction. Almost $6 trillion has been wiped off the markets since the tariffs were announced last week. On Monday, the FTSE, Wall Street and the Asia-Pacific suffered heavy losses, with the S&P 500 set to enter a bear market after a 20% fall since December. The chaos has economists predicting a global recession.
The UK stock markets are predicted to open about 2% higher today after a more positive performance from Asian markets. European and UK shares are expected to see a rebound when trading starts at 08:00 BST this morning.
Elsewhere, a British woman gave birth to a healthy baby girl after having a womb transplant – a first for UK medicine that could benefit thousands of others.
The King and Queen have arrived in Italy for a state visit where they will meet with the Italian president and prime minister, and Charles will deliver a speech to both houses of Italy’s parliament. Prince Harry is also back in the headlines as the royal returns to Britain for a two-day court case regarding his security.
The Birmingham bin strikes also feature heavily in the UK headlines, as neighbouring district Linchfield has said it will step in and help clear the piles of rubbish that have accumulated in the city since bin workers went on strike last month.
Chaos continues from US tariffs – UK miracle baby – Royals trip to Italy
US tariffs – the stock markets react as chaos continues from US tariffs
The stock markets were up and down yesterday after confusion over a tweet about a potential pause on tariffs – later dismissed as fake. This morning, there has been an improvement in the Asian and European markets amid claims of trade talks between the US and Japan. However, these remain fragile – if China doesn’t back down from its retaliatory tariffs, Wednesday is set to see another 50% tariff in motion.
- The i reports that as stock markets around the world slid, Donald Trump vowed to stay the course with the paper noting that billions were wiped off pensions. The paper looks at Monday’s trading for Asian, British and US markets and fears of a recession.
- The FT looks at the escalating tariff war between China and the US after Trump threatened an additional 50% tariffs on China if Beijing did not withdraw its retaliatory levies. China has said it will not back down. US stocks closed slightly lower after a day of volatile trading.
- Metro reports on Trump’s message that the tariffs are “medicine” that will make the US wealthier than ever before. The paper says the US president has defended his trade war with the world despite three days of “historic stock market slides.”
- The Guardian leads on the denial that there could be a pause on tariffs to allow for negotiations. Trump said on Monday, “We’re not looking at that.”
- The Daily Telegraph leads on Trump’s call for Americans not to panic despite trillions of dollars being wiped from the global markets by the “tariff onslaught.” In an apparent reference to his own Republican Party, the US president told critics not to be “a Panican” – coining a new phrase which he described as “a new party based on weak and stupid people”.
- The Times leads with Trump’s insistence that there would be no pause in tariffs as he demanded China back down in the trade war or face a further charge of 50%.
- The Independent says that as Trump doubles down on tariffs, banks have wanted a slowdown, and experts predict an ‘economic nuclear winter’. The paper highlights that the prime minister has urged ‘cool heads’ but also noted that the worldwide instability is here to stay.
UK baby born after womb transplant
A major medical breakthrough in the UK was a woman giving birth to a healthy baby after a womb transplant.
- The Daily Mail reports on the British woman who gave birth to a healthy baby girl after having her sister’s womb transplanted into her in a UK first that could benefit thousands more women.
- The Mirror reports that Grace and her husband have described the arrival of the baby as “the gift of life.”
- The Daily Express calls it a “medical breakthrough.”
Royal news latest – King and Queen visit Italy, Harry back in London
King Charles and Camilla mark their 20th wedding anniversary this week with a four-day state visit to Italy on the table. The King’s youngest son, Harry, is back in Britain for a court case as he challenges the decision over his security in the UK.
- The Times says Charles and Camilla’s state visit to Italy is aimed at strengthening ties as part of a reset of Britain’s relationships with its European partners.
- The Independent says the King and Queen will celebrate their 20th wedding anniversary by spending the evening as guests of honour at a state banquet held in Rome.
- GB News reports King Charles still “deeply regrets the pain and sadness caused” by his divorce from the late Princess Diana, according to an insider ahead of his 20th wedding anniversary with Camilla.
- The New York Times breaks down Prince Harry’s court case, saying a two-day hearing will begin on Tuesday in London’s Court of Appeal, as Harry challenges the government over his security protection in Britain.
- The Daily Mail reports that Harry landed in the UK as his father jetted off to Italy for the state visit. It says the pair might not have met ‘in the few hours between their flights’ amid a strained relationship over the past five years.