Trump tariffs live updates: Keir Starmer says UK 'rules nothing out
By JAMIE BULLEN
Sir Keir Starmer has said the UK 'rules nothing out' and is 'preparing for all eventualities' amid fears of a global trade war sparked by Donald Trump's sweeping tariffs on so-called 'Liberation Day'.
At Prime Minister’s Questions, Sir Keir told the Commons: 'We’ve been preparing for all eventualities ahead of the confirmation of US tariffs later today.
'Let me be clear with the House, a trade war is in nobody’s interest, and the country deserves – and we will take – a calm, pragmatic approach.'
The country has been warned to 'prepare for the worst' with the U.S President expected to announce huge taxes on U.S imports which threaten to trigger shockwaves in economies across the world.
Live updates below
08:01
How could tariffs impact car prices in the U.S?
File photo dated 06/07/21 of the Astra assembly line at Vauxhall's plant in Ellesmere Port, Cheshire. Car production has fallen for the 12th month in a row, figures reveal. The total for cars and commercial vehicles was down by 11.6% in February to 82,178 compared with a year ago, said the Society of Motor Manufacturers and Traders (SMMT). Issue date: Thursday March 27, 2025. PA Photo. See PA story INDUSTRY Cars. Photo credit should read: Peter Byrne/PA Wire
Daniel Ives, global head of technology research at Wedbush Securities says the tariffs will cause 'pure chaos' to the global auto industry, raising the prices of a typical car to a U.S consumer by $5k to $10k.
He also warned that drivers in America are extremely likely to incur increased repair bills for their U.S-produced cars that require parts imported from overseas.
'We stress that the concept of a U.S car maker with parts all from the U.S is a fictional tale that does not exist and would take years to make this concept a reality,' he said.
'Over the last week, we have spoken to many in the auto industry from around the US, Europe, and Asia and the conclusion is this tariff announcement (in its current form) would send the auto industry into upside down mode and raise the average price of cars between $5k on the low end and $10k to $15k on the high end.
'Ferrari already said after April 1 it will raise prices on certain models in response to the new tariff.
'Every auto maker in the world will have to raise prices in some form selling into the U.S and the supply chain logistics of this tariff announcement heard around the world is hard to even put our arms around at this moment.'
07:44
Revealed: The UK region set to be hit hardest by Trump's tariffs
Jaguar and Land Rover, the British vehicle-brand logos of Indian-owned Tata Motors, are displayed in front of their showroom in New Delhi, India, April 2, 2025. REUTERS/Priyanshu Singh
Researchers at the University of Birmingham have warned that the West Midlands - home to Jaguar Land Rover and Aston Martin - will be hit hardest by Trump’s 25 per cent tariffs on US imports.
It said it: 'The impact of a decision made an ocean away specifically on the West Midlands cannot be understated. Rather than a shock, the West Midlands automotive sector could face a sudden and catastrophic earthquake.’
Dr Matt Lyons and Dr Huanjia Ma, research fellows at its City-Region Economic Development Institute, estimate the cost of the US tariffs to the UK will be £9.8billion in GDP between 2025 and 2030, and put 137,000 jobs at risk.
'According to our analysis, the West Midlands, an important hub for automotive manufacturers and their supply chain, is expected to take the sizeable brunt of this, losing £6.2billion in GDP, 62 per cent of the total impact on the UK,' they said.
'The West Midlands is home to Jaguar Land Rover, Aston Martin, Changan Automotive and a large cluster of suppliers. In a 2023 study, 22 of the 50 largest automotive firms in the region were already found to be at risk of insolvency due to poor liquidity ratios.’
It said that the West Midlands is projected to suffer a £6.2billion decline in GDP (62 per cent of the total impact) and £4.6billion loss in gross value added (GVA).
The North West is anticipated to lose £2.1billion in GDP and £1.8billion in GVA (21 per cent of the total).
'Together, these two regions will see 85 per cent of the economic impact,’ they concluded.
07:37
Starmer appeals for 'calm' hours before Trump's 'Liberation Day' tariffs
by James Tapsfield
Keir Starmer appealed for 'calm' today as the world braces for Donald Trump to unveil his 'Liberation Day' tariffs.
Sir Keir said the government is being 'pragmatic' and 'preparing for all eventualities' with our 'feet on the ground' as he took the regular session of PMQs.
He acknowledged the failure to carve out an exemption from the US president's trade war despite weeks of intense negotiations - but said he was still hoping a deal can be done.
'The country deserves, and we will take, a calm constructive approach… that’s why we’re working with all industries and sectors likely to be impacted,' he told MPs.
The exact shape of the levies has yet to become clear, although the White House has fuelled global panic on markets by branding them 'historic'. Mr Trump is thought to be leaving towards 'big bang' 20 per cent charge on all imports.
Read more here:
PM appeals for 'calm' hours before Trump's 'Liberation Day' tariffs
Keir Starmer said the government is being 'pragmatic' and 'preparing for all eventualities' with our 'feet on the ground' as he took the regular session of PMQs.
Mail Online
07:30
Starmer challenged over UK-U.S relationship
Screen grab of Liberal Democrats leader Sir Ed Davey speaking during Prime Minister's Questions in the House of Commons, London. Picture date: Wednesday April 2, 2025. PA Photo. See PA story POLITICS PMQs. Photo credit should read: House of Commons/UK Parliament/PA Wire
Liberal Democrat leader Sir Ed Davey has challenged the Prime Minister over the UK's relationship with the U.S amid the prospect of Donald Trump's tariffs.
Sir Keir Was asked if he will provide leadership of an economic 'coalition of the willing' against the sweeping taxes - much like he has done to help Ukraine.
The Prime Minister said any choice between the UK's relationship between Europe and the U.S was a 'false' one.
At Prime Minister’s Questions, Sir Ed told the Commons:
The Prime Minister has shown commendable leadership over Ukraine with his plan for a military coalition of the willing against (Vladimir) Putin.
Will he now provide similar leadership with an economic coalition of the willing against (Donald) Trump’s tariffs, for free trade, so we can avoid a global trade war and a global recession?
Prime Minister Sir Keir replied:
I think every week he tries to tempt me to make what I think is a false choice between our relationship with the US and our relationship with other countries, particularly Europe. I think that’s the wrong choice on defence, on security and intelligence, for reasons that we’ve rehearsed across this chamber.
07:17
Starmer - We must remain cool headed
Sir Keir has told MPs the UK must remain 'cool headed' as he insisted 'constructive' talks with the U.S. are ongoing in regards to a wider economic deal.
Pressed by Conservative leader Kemi Badenoch on how he will help the British car industry, Sir Keir reiterated he was taking a 'calm and pragmatic' approach.
He added he was not ruling out any responses, raising the prospect of retaliatory tariffs, adding he would be guided by the UK's national interest.
07:06
Starmer - UK 'prepared for all eventualities'
Sir Keir Starmer has said the UK has been 'preparing for all eventualities' in the event of US tariffs, as he promised a 'calm, pragmatic approach'.
At Prime Minister’s Questions, Sir Keir told the Commons:
We’ve been preparing for all eventualities ahead of the confirmation of US tariffs later today. Let me be clear with the House, a trade war is in nobody’s interest, and the country deserves – and we will take – a calm, pragmatic approach.
That’s why constructive talks are progressing to agree a wider economic prosperity deal with the US. That’s why we’re working will all industries and sectors likely to be impacted. Our decisions will always be guided by our national interest, and that’s why we have prepared for all eventualities and we will rule nothing out.
06:46
UK investors nervously await Trump tariff details
by Mike Sheen
London-listed stocks traded lower on Wednesday as investors anxiously awaited details of sweeping US tariffs on global imports due later in the day.
Global markets went into freefall earlier in the week as investors fretted the implications of Donald Trump's 'liberation day', with the President promising to lay the foundation for a new 'golden age' of US industry.
While full details are due at 4pm Washington time (9pm GMT), the White House is reportedly still weighing plans that could see the imposition of blanket 20 per cent levies across the board or some countries offered preferential treatment.
Oliver Blackbourn, portfolio manager at Janus Henderson Investors, said: 'What is certain is that the introduction of new tariffs is likely to have negative consequences for economic growth, consumers, and markets.
'Perhaps the most important question is whether this announcement will tip the scales towards a global recession.'
Read more here:
UK investors nervously await Trump tariff details amid recession fears
London-listed stocks traded lower on Wednesday as investors anxiously awaited details of sweeping US tariffs on global imports due later in the day.
This is Money
06:35
The top Trump official who will take the blame if tariffs go south
Donald Trump holds an executive order about tariffs increase, flanked by Howard Lutnick
FILE PHOTO: U.S. President Donald Trump holds an executive order about tariffs increase, flanked by U.S. Commerce Secretary Howard Lutnick, in the Oval Office of the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/File Photo
President Donald Trump will take all the credit if his 'Liberation Day' tariffs bring manufacturing stateside and give the U.S. economy a boost.
But if the economic pain is stronger than the gain, some members of Trumpworld have already started planting the seeds when it comes to a fall guy.
In mid-March, Politico published a story pointing fingers at Commerce Secretary Howard Lutnick.
'He's trying to be a mini-Trump. I don't think he got the memo that only Trump gets to be Trump,' a source close to the administration said of Lutnick. 'It just reinforces that he doesn't really know how to do the job.'
The source also said that Lutnick is 'constantly auditioning for Trump's approval.'
Sources also told the news outlet that Lutnick's recent television appearances showed that he lacked a basic understanding of how the economy worked and how tariffs would impact it.
Lutnick, the former head of Cantor Fitzgerald, also gave a rosier economic picture than he was supposed to.
He said in March on Meet the Press that Americans should 'absolutely not' brace for a recession.
06:24
How Trump snubbed Starmer in run up to Liberation Day
(FILES) US President Donald Trump greets British Prime Minister Keir Starmer at the entrance of the West Wing of the White House in Washington, DC, on February 27, 2025. Keir Starmer and Donald Trump spoke on Sunday and discussed "productive" talks towards a UK-US trade deal, the British Prime Minister's Downing Street office said on March 20, 2025. Since Britain's exit from the European Union at the start of the decade successive UK governments have sought to strike a trade deal with the United States. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)
Keir Starmer and Rachel Reeves have failed to carve out an exemption from the US president's looming trade war despite weeks of intense negotiations.
The Prime Minister has been frantically fighting for a wider trade deal with the US to protect businesses, but has given up hope of securing one before the levies are introduced.
The PM even invited Mr Trump to visit the UK in June to sign an agreement, but was snubbed by the US President.
The government is now putting its focus on sealing a pact in the coming weeks, with insiders insisting the terms are close to being finalised.
The situation could dominate the PMQs session in the Commons at noon, as well as two scheduled appearances by Ms Reeves.
Economists have been warning that could slash up to 1 per cent off UK plc's growth, potentially smashing the Chancellor's Spring Statement plans and forcing her to hike taxes again.
05:56
Christine Lagarde - Trump tariffs will be 'negative' for the world
(FILES) European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the Central Bank's headquarters in Frankfurt am Main, western Germany, on March 6, 2025, following the meeting of the governing council of the ECB. Lagarde on March 31, 2025 said that Europe should move towards economic independence as US President Donald Trump prepares to unleash a new wave of tariffs. (Photo by Daniel ROLAND / AFP) (Photo by DANIEL ROLAND/AFP via Getty Images)
U.S. President Donald Trump's planned tariffs will be negative across the world, European Central Bank head Christine Lagarde said today.
Ms Lagarde said the damage caused by sweeping new import taxes will depend on how far they go, how long they last and whether they lead to successful negotiations.
Speaking on Ireland's Newstalk radio, she said.
It will be negative the world over and the density and the durability of the impact will vary depending on the scope, on the products targeted, on how long it lasts, on whether or not there are negotiations
Because let's not forget quite often those escalation of tariffs, because they prove harmful, even for those who inflict it, lead to negotiation tables where people actually sit down and discuss and eventually remove some of those barriers.
05:40
The ‘Dirty 15’ countries braced for biggest hit from Trump’s tariffs
FILE - Scott Bessent, United States Secretary of the Treasury, speaks at an Economic Club of New York luncheon in New York, March 6, 2025. (AP Photo/Seth Wenig, File)
Officials in President Donald Trump's administration, including Treasury Secretary Scott Bessent, have said that much of the focus of the reciprocal U.S. tariffs will be on 15 countries that have the highest trade surpluses with the United States.
Bessent (pictured) has referred to the countries as the 'Dirty 15' but has not named them.
In an interview with Fox News last month, Bessent said:
What’s going to happen on April 2: Each country will receive a number that we believe that represents their tariffs. For some countries it could be quite low. For some countries it could be quite high. There’s what we would call kind of the ‘Dirty 15,’ and they have substantial tariffs.
Although the nations have not been named specifically, it is expected that Taiwan is one of the 15, along with countries such as China and South Korea plus the European Union.
The Office of the U.S. Trade Representative has previously listed 21 countries in which it is 'particularly interested' as part of a review of unfair trade practises.
The countries named were Argentina, Australia, Brazil, Canada, China, the European Union, India, Indonesia, Japan, Korea, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, Switzerland, Taiwan, Thailand, Turkey, the United Kingdom and Vietnam.
05:11
Italy cuts growth forecast as Trump tariffs loom
Italy's main business lobby Confindustria today cut its economic growth forecast for the country, warning that looming U.S. trade tariffs risk further worsening the outlook.
Donald Trump is expected to unveil a comprehensive tariff plan later, sparking worldwide fears among businesses, consumers and investors about an intensifying trade war.
Confindustria said it expected Italy's gross domestic product (GDP) to expand by 0.6% this year, just half the government's official 1.2% forecast and down from the 0.9% the association had estimated in October.
It predicted that GDP growth would pick up to 1% in 2026.
The euro zone's third largest economy expanded by a modest 0.7% in both 2024 and 2023.
It eked out growth of 0.1% in the fourth quarter of last year from the previous three months, after stagnating in the third quarter.
Most analysts expect no significant pick-up in the near term.
05:00
UK manufacturers suffer amid Trump's tariff threat
SCUNTHORPE, ENGLAND - JUNE 08: Labour Party Leader Keir Starmer and Shadow Climate Change and Net Zero Secretary Ed Miliband visit the British Steel manufacturing site in North Lincolnshire on June 8, 2023 in Scunthorpe, England. Keir Starmer and Ed Miliband used the visit to reiterate the Party's commitment to working with business to drive growth and generate the jobs of the future and that under Labour the British steel industry will be supported, ensuring that the next generation of green steel is built in the UK. (Photo by Ian Forsyth/Getty Images)
Manufacturing across the world slumped last month as firms brace for the impact of Donald Trump’s latest trade wars.
British manufacturers endured their worst month for well over a year in March, as rising costs and the threat of US tariffs hammered new order volumes and industry optimism.
Higher labour costs related to the Autumn Budget, and the potential direct and indirect impact of an emerging trade war are yet another blow to manufacturers.
They have suffered a protracted period of disappointing output amid broad economic weakness and global uncertainty.
The closely watched S&P Global UK Purchasing Managers' Index (PMI) for manufacturing, a measure of activity in British factories, last month fell to to its lowest since October 2023, when Britain was in recession.
The index – where any measure below 50 marks contraction - dropped to 44.9 in March from 46.9 in February.
While it was fractionally higher than a preliminary reading of 44.6, the latest survey confirmed a picture of collapsing new export orders, which contracted at the fastest rate since August 2023.
04:43
Trump's 25% tariffs on US car imports could threaten 25,000 UK jobs, think tank warns
Donald Trump's 25 per cent tariffs on US car imports from Wednesday could put 25,000 UK jobs in the automotive manufacturing sector at risk, a think tank has warned.
The Institute for Public Policy Research (IPPR) said the US President's levies on UK-made cars entering the United States - which could make Range Rovers almost $30,000 pricier when sold in the country - would put 'extreme pressure' on Britain's car makers and 'threaten jobs and economic growth'.
With exports to America predicted to fall with Trump's 'reciprocal' tariffs on 'friends and foes', the IPPR says employees at Jaguar Land Rover and the Cowley Mini factory will be among the most exposed.
Eight in ten motors produced in Britain are exported. And three quarters of the 603,565 cars built for overseas markets in 2024 were made for just three regions - one of these being the US.
While the EU accounted for 54 per cent of exports and China 6.6 per cent, some 16.9 per cent were destined for US ports.
It means some 102,000 cars - estimated to be worth £9billion - that came off British assembly lines ended up in the US last year. That accounts for one in eight (13 per cent) of all passenger cars made here in 2024.
04:33
ALEX BRUMMER: Counting on Trump's 'good nature' was always going to be high risk
by Alex Brummer
The thought of Business Secretary Jonathan Reynolds making a deal with the billionaire hyenas in Donald Trump’s trade and economic team will not fill anyone with confidence.
The Labour apparatchik tried to explain, on Radio 4, why the country should be grateful for an increase in the minimum wage.
His narrative was risible when council taxes, energy bills, water rates, the TV licence, mobile subscriptions and the cost of first and second-class stamps are surging.
The best cheer Reynolds could offer was three reductions in the bank rate since July 2024.
Read the full comment piece here:
Counting on Trump logic is high risk, says ALEX BRUMMER
The idea of the Business Secretary making a deal with the hyenas in Donald Trump's trade and economic team will not fill anyone with confidence.
This is Money
04:24
How have countries reacted to Trump's tariffs?
Major economies including the European Union and Canada have vowed retaliation against Trump's tariffs while others such as the UK are insisting the response will not be 'knee-jerk'.
Let's take a look at how other countries have so far reacted and what could come next:
China has already introduced a 10-15% tax on some US agricultural goods as Beijing retaliated to an additional 20 percent tariffs on all goods. China has also targeted US aviation, defence and tech firms
The European Union, which Trump has accused of trying to "screw" the United States, saidit still hoped to negotiate a solution - but that "all instruments are on the table" to retaliate if necessary with EU tariffs targeting US goods worth €26bn (£22bn) will start on 13 April. The levy will cover items ranging "from boats to bourbon to motorbikes", as well as steel and aluminium products
Canada has imposed a 25% tariff on US steel, aluminium and other goods worth about C$60bn ($42bn; £32bn) in response to US imposing 25% tariffs last month. 'We are going to be very deliberate in terms of the measures we take, to fight for Canada,' Prime Minister Mark Carney said yesterday
Mexico has delayed introducing its own retaliatory tariffs while negotiations continue and yesterday lowered its 2025 growth forecast from between two and three percent to a range of 1.5 to 2.3 percent, citing tensions with its largest trading partner.
UK Prime Minister Keir Starmer has insisted he has held 'productive negotiations' towards a UK-US trade deal but admitted the UK would likely be hit by tariffs. He has been urged by some in Parliament to follow Canada and the EU by launching retaliatory tariffs.
03:59
Why is Trump unleashing tariffs?
WASHINGTON, DC - APRIL 1: Pro-tariff headlines are displayed on a monitor as White House press secretary Karoline Leavitt speaks during the daily press briefing in the Brady Press Briefing Room at the White House on April 1, 2025 in Washington, DC. Leavitt discussed tomorrow's expected "Liberation Day" tariffs signing Rose Garden event by U.S. President Donald Trump, illegal crossings at the southern border, deportations, the Mara Salvatrucha gang commonly known as MS-13, and other topics. (Photo by Andrew Harnik/Getty Images)
Speaking at the White House yesterday, Donald Trump's press secretary Karoline Leavitt said Liberation Day 'will go down as one of the most important days in modern American history.'
It has been reported Trump will likely announce an across-the-board 20 percent tariff on most of the nation's imports.
Trump memorably described tariff as his favourite word when he ran to reclaim the White House last year as it forms a key component of his administration's aim to encourage US consumers to buy more American-made goods, thereby boosting the country's economy - in other words 'America First'.
Imposing tariffs is seen as necessary by Team Trump to stop what he has described as Americans getting ripped off as he looks to reduce the gap between the value of goods the US imports and those it exports to other countries
In 2024, the US had a goods trade deficit of $213bn (£165bn) with the European Union, something Trump has branded an 'atrocity'.
Trump has also used tariffs as a tool to crack down on migrants and drugs entering the US with penalties already imposed on Mexico and Canada.
03:47
Education Secretary - UK in 'strong position' to strike economic deal with U.S
LONDON, UNITED KINGDOM - APRIL 01, 2025: Secretary of State for Education and Minister for Women and Equalities Bridget Phillipson leaves 10 Downing Street after attending the weekly Cabinet meeting in London, United Kingdom on April 01, 2025. (Photo by Wiktor Szymanowicz/Anadolu via Getty Images)
Bridget Phillipson has today insisted the UK is in a 'strong position' to strike an economic deal with the U.S but is 'entering a challenging period'.
She told Sky News:
We know that we’re entering a challenging period and a trade war with the US would be in no one’s interests.
We believe we are in a strong position to strike that kind of deal.
The Education Secretary said she would not 'speculate on eventualities' when asked what Britain’s 'plan ' is if negotiations fail to produce a wider economic deal.
03:36
How did we get to Liberation Day?
President Donald Trump did not want his major tariff announcement to be a laughing matter.
'I was going to do it April 1st but I said, "I don't like that date,"' Trump said at an event with the nation's governors in February. 'I don't want to take the abuse.'
Still, he flirted with the idea: 'Should I just do April 1st?' It's going to cost a lot of money to wait one day,' he joked.
But then he decided to turn April 2nd into a Trump-branded holiday: 'Liberation Day' he dubbed it.
Liberation Day is now set to become the president's first big event in the White House's Rose Garden of his second term. It will take place at 4 pm (9pm UK time) - to prevent a split screen moment of the announcement coinciding with markets tumbling.
Read more here:
Trump Liberation Day tariffs to go into effect as markets melt down
Trump's tariffs have already created stock market turmoil, raised the odds of a recession and started to push up inflation on household items, with economic experts fearing even more price hikes.
Mail Online
03:27
Starmer and Reeves face big day as UK told to 'prepare for the worst'
26/03/2025 - Spring Statement - The PM Keir Starmer congratulates the Chancellor Rachel Reeves. UK growth forecast halved for 2025, Reeves says, but housebuilding expected to boost economy longer term. Chancellor Rachel Reeves says the 2025 growth estimate for the UK has been halved to 1% from 2% by the government's official forecaster, the Office for Budget Responsibility (OBR). In her Spring Statement, she announces "final adjustments" to benefits changes unveiled last week - she says the cuts will save £4.8bn in the welfare budget. New measures on to crack down on tax avoidance and evasion will make an extra £1bn in savings, she says. PICTURE: HOC/UNPIXS 26/03/2025
Sir Keir Starmer and Rachel Reeves will both face questions from MPs today as Donald Trump prepares to announce major new tariffs that could derail their economic plans.
The US president is expected to unveil sweeping tariffs at an event at the White House around 9pm UK time, in a move he has dubbed Liberation Day.
Ministers are still hopeful of securing a deal with the US that would provide some protection from the import taxes, but Sir Keir acknowledged that 'the likelihood is there will be tariffs' on UK exports.
Yesterday, senior government ministers said the UK must 'prepare for the worst' ahead of Trump's announcement.
Today, Sir Keir will face MPs at Prime Minister’s Questions while the Commons Treasury Committee will grill the Chancellor on last week’s spring statement, but is sure to face questions about what the tariffs will mean for her plans.
Economists at the Office for Budget Responsibility have warned that US tariffs could eliminate Ms Reeves’s 'headroom' against her debt target, requiring more spending cuts or tax rises to meet the rules she has set herself, as well as knock up to 1% off the size of the economy.
Meanwhile, analysis from the Institute for Public Policy Research (IPPR) suggested tariffs on car imports would put 25,000 UK jobs at risk and 'completely destabilise the UK car manufacturing industry'.
03:20
Trump prepares to announce sweeping tariffs on 'Liberation Day'
Mandatory Credit: Photo by Shutterstock (15227824z) United States President Donald Trump looks on before Alina Habba, his former defense lawyer, is sworn in as US Attorney for New Jersey in the Oval Office of the White House in Washington, DC. Alina Habba Sworn In as US Attorney for New Jersey in Washington, DC, Washington, District of Columbia, USA - 28 Mar 2025
Hello and welcome to MailOnline's live coverage with Donald Trump expected to announce sweeping tariffs that could plunge the UK and other world economies into panic.
Sir Keir Starmer and Rachel Reeves are both expected to be grilled on how the country will respond to the U.S President amid fears the Government's economic strategy could later lie in tatters.
It comes as Trump prepares to announce sweeping taxes on goods from around the world, which threaten to 'knock out' the Chancellor's latest financial plans only a week after she announced them.
Markets around the globe have plunged in anticipation of Mr Trump's so-called Liberation Day, and yesterday Britain's economy suffered a string of downgrades.
Stick with us for the latest developments, analysis and reaction throughout the day.
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