Trump tariffs live: US stocks plunge on opening as EU ‘finalising’ plan to hit back in trade war
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As global stock markets plunge, here’s what to know about Europe’s response to Trump tariffs
- Global stock markets plummeted following President 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 15 April if negotiations with the US fail.
- Trump defended the tariffs as necessary "medicine," while JP Morgan raised the probability of a global recession to 60 per cent.
- A false report about a potential 90-day pause on tariffs caused significant market fluctuations before being debunked by the White House.
- Prime Minister Keir Starmer expressed concern over the tariffs but emphasised the importance of the UK-US relationship, while also announcing adjustments to automotive sales rules to support the industry.