Browsing: Donald Trump

Friday’s UK headlines are similar to headlines from around the world: the fallout from Donald Trump’s tariffs after “trillions” have been wiped off the global stock markets. 

On Wednesday, Trump announced a baseline tariff on almost every country in the world of at least 10% – whilst some countries face much higher levies, with the EU being hit with 20%. 

Since the announcement, global markets have experienced significant declines, with both the US and European markets reporting their worst one-day losses since the COVID-19 pandemic and raising concerns about a potential recession and international retaliation. Economists are warning of a ‘spiral of doom’, suggesting that retaliatory measures could lead to further economic destabilisation. 

Elsewhere, a probe into the bitter dispute surrounding Prince Harry’s charity Sentebale. The Charity Commission said it had opened a case to examine “concerns raised” about Sentebale, following claims made by its head, Sophie Chandauka. Prince Harry has said he hopes the watchdog will “unveil the truth”.

US President Donald Trump has dismissed at least six National Security Council officials, including David Feith and Brian Walsh, following a meeting with far-right activist Laura Loomer.

Danish Prime Minister Mette Frederiksen has unequivocally rejected President Trump’s calls for the US to take control of Greenland, emphasising that the matter impacts the global order established over generations.

Global stock markets experienced significant declines following President Trump’s announcement of sweeping tariffs, including a 10% tax on imports from the UK.

Lesotho faces the highest import tax from US tariffs, with a 50% levy on goods, significantly impacting its textile industry.

More reaction from the global stock markets, world leaders and experts a day after Donald Trump announced global tariffs.

The UK is amongst some countries facing a baseline tariff of 10%

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.

Reports indicate that President Trump has informed his inner circle of Elon Musk’s anticipated reduced involvement in government, conflicting with Musk’s ongoing role leading efforts to cut US government spending.