Trump tariffs live: FTSE dealt further blow as US president issues fresh 50% levies warning against China
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Global stock markets plummet as Trump tariff fallout continues
- Global stock markets plummeted following US President Donald Trump's sweeping tariffs, with US indexes down over 3 per cent and the UK's FTSE 100 hitting a one-year low.
- The EU is preparing countermeasures, to be implemented on April 15 if negotiations with the US fail.
- Trump dismissed market concerns, stating the tariffs are necessary "medicine", while JP Morgan raised the probability of a global recession to 60 per cent.
- UK Prime Minister Starmer vowed support for British businesses, announcing relaxed rules on automotive sales and emphasizing the importance of the US-UK relationship.
- A false report about a potential 90-day tariff pause caused significant market fluctuations before being dismissed as "fake news" by the White House.