A significant increase in tariffs, including a stunning 104% levy on Chinese imports, is set to take effect, creating volatility in Asian markets. This development follows an overall downturn in the U.S. stock market, where the S&P 500 fell 1.6%, indicating widespread investor concern regarding the ongoing trade war.
Chancellor Rachel Reeves is set to meet with top City executives to assess the impact of President Trump’s tariffs on the UK Economy.
The global financial markets are experiencing a downturn due to US tariffs imposed by President Trump, raising fears of an escalating trade war and potential global recession.
Trading has just restarted in Europe and all the main stock markets are showing a slight rebound from the previous falls.
China has responded to President Trump’s threat of a 50% tariff on its imports by stating it will “fight to the end” and take countermeasures to protect its interests. The Commerce Ministry condemned the U.S. actions as “completely groundless” and labelled them as unilateral bullying.
China has warned of potential “countermeasures” in response to Donald Trump’s proposed 50% tariff on Chinese imports, describing US actions as unilateral bullying and illegitimate.
The UK’s economic options are severely constrained due to high borrowing and record tax levels, limiting the government’s ability to respond to the economic shock caused by Trump’s tariff announcement.
Today’s headlines – in print and online – are, of course, dominated by the ongoing fallout from Donald Trump’s Liberation Day tariffs as the PM promises to protect British business and stock markets continue to fall. There are fears of a US recession – and a global economic meltdown.
Global stock markets plummeted overnight, with Japan’s Nikkei 225 falling nearly 8% and US stock market futures indicating further declines, as fears of a trade war escalate following President Trump’s new tariffs.
White House aides expressed mixed signals about Donald Trump’s tariff policies, with some suggesting room for negotiation while others dismissed the prospect.
US correspondents Mark Stone and David Blevins addressed various topics, including the implications of Trump’s “Liberation Day” tariffs on American consumers.
Sir Keir Starmer has said his government stands ready to use industrial policy to “shelter British business from the storm” after Donald Trump’s new 10% tariff kicked in.
There have been a few big announcements from China today – the latest outlines new restrictions on US companies.
BBC’s business editor Simon Jack was asked: Is this a stock market crash? Here’s what he has to say:
Stocks slump – China to impose 34% levy as retaliation – China files lawsuit | US tariffs LIVE
The story that is dominating every news site – in print and online – today is, of course, the ongoing chaos facing the global stock markets following Donald Trump’s latest US tariffs.
Global stock markets experienced significant declines following President Trump‘s announcement of sweeping tariffs, including a 10% tax on imports from the UK.
Both US and European markets reported their worst one-day losses since the COVID-19 pandemic, raising concerns about a potential recession and international retaliation.
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”.
The UK faces potential implications from a new list of goods, including American items like jeans and whiskey, subject to reciprocal tariffs amid ongoing trade tensions.
Russia, along with Cuba, Belarus, and North Korea, is excluded from Donald Trump’s new tariffs list, raising questions about preferential treatment for adversaries over allies.
The US announced tariffs ranging from 10% to 50% targeting several nations and territories, including uninhabited islands like the Heard and McDonald Islands, home only to penguins and seals.
More reaction from the global stock markets, world leaders and experts a day after Donald Trump announced global tariffs.
Donald Trump has moved “Liberation Day” to 2 April to avoid association with April Fool’s Day, prompting global governments to prepare for impending tariff announcements.
Trump’s new tariffs, including a 10 percent levy on all countries, caused Apple’s stock to drop over six percent. The company depends on manufacturing in places like China and Taiwan.
The White House has said it will impose what they call reciprocal tariffs on roughly 60 of the “worst offenders”.
The UK is amongst some countries facing a baseline tariff of 10%
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