Trump tariffs: London market plunges as new taxes come into force
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As Trump’s tariffs come into force, London market takes a dive
- London's FTSE 100 Index has fallen from record highs following US President Donald Trump's decision to impose tariffs on Canada, Mexico, and China.
- The FTSE 100 dropped roughly 0.5 percent, while European markets also saw declines.
- Trump's tariffs target Canadian and Mexican imports at 25 per cent, with Canadian energy products at 10 per cent, and Chinese imports at 20 per cent.
- Retaliatory actions from Canada and China has caused US and Asian markets to tumble.
- Oil giants BP and Shell were among the hardest hit in London, while UK defence stocks continued to rally.