Trump tariffs live: President dismisses tariff pause as Netanyahu vows to ‘eliminate’ US trade barriers
US president describes sweeping tariffs as ‘medicine’ as major volatility in global markets continues
Donald Trump has confirmed that the US will not be pausing tariffs, stressing that they were “not looking at that”.
The president said many countries have been negotiating with Washington and they will try and make "fair deals" with each of them. It comes as Israeli prime minister Benjamin Netanyahu vowed to eliminate the trade deficit with the U.S, while Trump also accused the EU of being formed to “create a unified force against the United States for trade.”
London’s FTSE 100 stock index plunged a further 4.3 per cent on Monday to a value last seen in March 2024, as Donald Trump’s tariffs continue to wreak havoc on the global markets.
After the US president announced his sweeping tariffs last week, Wall Street sank again, with the S&P 500 briefly approaching bear market territory on Monday, coming off its worst week since Covid-19 began crashing the global economy in March 2020. The Dow Jones Industrial Average was down 2.3 per cent, and the Nasdaq composite 1.5 per cent lower.
The continued volatility came as Mr Trump threatened China with a further tariff of 50 per cent and said “all talks with China concerning their requested meetings with us will be terminated” unless Beijing withdraws its planned 34 per cent retaliatory levy.
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