Trump tariffs LIVE: US president unveils controversial tariffs that cause global havoc

35 mins ago00:11 Phoebe Tonks

Italian PM Giorgia Meloni has hit out at the introduction by the U.S. of new tariffs against the European Union, with the world leader arguing that it was the “wrong” measure that doesn’t favor either side.

“We will do everything we can to work towards an agreement with the United States, with the aim of avoiding a trade war that would inevitably weaken the West in favor of other global players,” Meloni said in Facebook post.

“In any case, as always, we will act in the interest of Italy and its economy, also by discussing with other European partners.”

1 hour ago23:44 Phoebe Tonks

Sir Ed Davey, the leader of the Liberal Democrats has accused Donald Trump of launching a “destructive trade war” after he slapped huge tariffs on multiple countries around the world.

Speaking in a statement, he said: “Today Donald Trump has launched a destructive trade war that threatens the jobs and living standards of people across the UK and around the world.

“We need to end this trade war as quickly as possible – and that means standing firm with our allies against Trump’s attempts to divide and rule.

“The Prime Minister should bring our Commonwealth and European partners together in a coalition of the willing against Trump’s tariffs, using retaliatory tariffs where necessary and signing new trade deals with each other where possible.

“If the Government gives in to Trump’s threats, it will only encourage him to use the same bullying tactics again and again.”

1 hour ago23:27 Phoebe Tonks

Donald Trump’s 10% tariff on imports from the UK will deal a “major blow” to small and medium businesses, a leading trade group has warned.

At the moment, around 59% of small UK exporters sell into the US market, the Federation of Small Businesses (FSB) said.

“Tariffs will cause untold damage to small businesses trying to trade their way into profit while the domestic economy remains flat,” Tina McKenzie, the FSB’s policy chair said.

“The fallout will stifle growth, hurt opportunities, and put a serious dent in the global economy.

“The UK Government should now be ready to provide emergency assistance to any SMEs at risk of collapse.”

2 hours ago23:07 Phoebe Tonks

Among a raft of hefty tariffs being levelled on countries around the world, President Trump’s decision to impose an 44% tariff on Myanmar is among the most controversial.

The country, which is still recovering from a deadly 7.7 magnitude earthquake which has killed hundreds and left countless more buried in rubble, was listed as having added 88% tariffs on the US.

In retaliation, Trump imposed the 44% tariff in return - a move which many, including ITV’s Robert Peston thought was a particularly low blow.

"Slightly tactless that Trump included shattered Myanmar in this list," Peston wrote on X.

2 hours ago23:02 Phoebe Tonks

In response to Donald Trump's decision to impose a 10% tariff on UK imports, Downing Street has insisted it will remain ‘calm’ despite the setback.

The introduction of the tariff comes even despite the 'special relationship' touted between the UK and US, with a Downing Street source saying: "We don't want any tariffs at all, but a lower levy than others vindicates our approach. It matters because the difference between 10% and 20% is thousands of jobs.

"We will keep negotiating, keep cool and keep calm. We want to negotiate a sustainable trade deal, and of course to get tariffs lowered. Tomorrow we will continue with that work."

2 hours ago22:42 Rebecca Robinson

2 hours ago22:32 Rebecca Robinson

Donald Trump has been warned that things could get "ugly" if he imposes a sweeping 25% tariff as part of his "Liberation Day" levies.

Global financial markets are currently on high alert ahead of the US president's announcement this evening as taxes could have significant impacts on corporate earnings, global growth, inflation and US interest rates.

Brian Mulberry, portfolio manager at Zacks Investment Management, said there are three possible outcomes of the Republican's escalating trade war.

He told Reuters: "The range of outcomes can be categorised as good, bad and the ugly. A good surprise would be if there aren't as many tariffs or if they are more targeted and reciprocal.

"The bad would be if they are more heavy-handed in their approach, including sanctions, and the ugly would be if there is a 25% tariff across the board."

2 hours ago22:31 Rebecca Robinson

Donald Trump's "Liberation Day" announcement of sweeping reciprocal tariffs sent the dollar plunging as global markets reacted to the news.

It dropped roughly 0.8% against the pound, while the US Dollar Index, which compares the currency against rivals, also dipped by 0.8%.

The initial drop then levelled out as details of the US president's blanket 10% tariff and additionally 25% levy on imported vehicles emerged.

Wrapping up his speech, the Republican signed an executive order that will bring them into effect.

3 hours ago22:03 Rebecca Robinson

The US dollar fell sharply during Donadl Trump's "Liberation Day" speech.

It dropped roughly 0.8% against the pound.

The US Dollar Index, which compares the currency against rivals, also dipped by 0.8%.

3 hours ago21:57 Rebecca Robinson

Donald Trump has now signed the executive order that will bring into effect his reciprocal tariffs.

He said: "We have some very, very good news today. A lot of good things are happening for our country.

"[I will sign] a historic executive order instituting reciprocal tariffs on countries throughout the world.

"Reciprocal. That means they do it to us and we do it to them. Very simple. Can't get any simpler than that."

The US president has now signed the executive order. (Image: Getty)

3 hours ago21:54 Rebecca Robinson

The top three countries with the highest US reciprocal tariffs are: Cambodia (49%), Laos (48%), and Madagascar (47%).

The lowest rate of reciprocal tax the US president announced was 10%, which will now apply to countries including the UK, Brazil, Chile, and Australia.

3 hours ago21:48 Rebecca Robinson

3 hours ago21:44 Rebecca Robinson

Donald Trump announced new tariffs. (Image: )

Donald Trump announced new tariffs. (Image: )

3 hours ago21:40 Rebecca Robinson

3 hours ago21:34 Rebecca Robinson

3 hours ago21:28 Rebecca Robinson

3 hours ago21:16 Rebecca Robinson

Donald Trump said the US has been "looted, pillaged, raped and plundered by nations near and far, both friend and foe alike".

He added: "Our taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore."

4 hours ago21:11 Rebecca Robinson

The US president said: "We have some very, very good news today. A lot of good things are happening for our country.

"[I will sign] a historic executive order instituting reciprocal tariffs on countries throughout the world.

"Reciprocal. That means they do it to us and we do it to them. Very simple. Can't get any simpler than that."

Donald Trump announced an executive order. (Image: Getty)

4 hours ago21:07 Rebecca Robinson

(Image: Getty)

4 hours ago21:01 Rebecca Robinson

Donald Trump's presser on his "Liberation Day" tariffs was due to begin at 9pm GMT, or 4pm EDT.

It has not started yet but crowds have gathered outside the White House in its rose garden.

4 hours ago20:41 Rebecca Robinson

Daire Burke, head of finance broker Swoop Funding's North American operations, said the worst-affected industries in the UK will be fishing, coke (a solid fuel made by heating coal) and refined petroleum products, and mining.

He told the Express: "The UK, as a major trading partner of the US, faces substantial challenges due to these tariffs. UK exports could decrease by £22 billion, a 2.6% reduction, affecting various sectors."

5 hours ago19:59 Rebecca Robinson

Donald Trump has been warned that his "Liberation Day" tariffs could end up costing the average US household $4,200 (£3,235) a year.

A broad 20% tariff would send consumer prices soaring by 2.1% to 2.6%, Yale Unversity's Budget Lab said.

It explained: "This is equivalent to a loss of purchasing power of $3,400-4,200 per household on average in 2024 dollars."

5 hours ago19:16 Rebecca Robinson

A British Steel spokesperson said: "It’s an especially challenging time for the UK steel industry and these tariffs apply yet even more pressure. We supply around 50,000 tonnes of steel into the US, which is why it is such an important market for our business.

"It’s vital the Government takes decisive action to protect its steelmakers and help safeguard our future. We remain in discussions with the UK Government and our US customers about tariffs and we’re hopeful a solution can be found soon."

6 hours ago18:52 Rebecca Robinson

Fear is growing as Donald Trump's planned tariffs are expected to be "negative the world over". The UK and EU are bracing themselves for a trade war as the US president is set to impose sweeping tariffs on ‘Liberation Day’.

The European Central Bank head Christine Lagarde said today: “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.”

The message from the US president has been consistent - tariffs are coming on Wednesday but the plan has largely remained a mystery with the size and scope of the barriers unknown.

However, the Trump administration has trailed today's announcement as a sweeping one. But he has also said he will be "very kind" in his announcement which could be good news for Britain.

"Very simply, it's if they charge us, we charge them," the US President said in February, shortly before he ordered officials to develop such a plan. Trump will unveil his tariff plan today in his first Rose Garden press conference of his second term.

White House press secretary Karoline Leavitt said he will announce a “country-based tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades.”

Experts fear a policy of wide-ranging levies on foreign goods could tip the U.S. into a recession risking a slowdown for businesses.

7 hours ago18:08 Rebecca Robinson

Donald Trump's tariffs will be dependent on the country and industry, a White House source told Sky News.

He said there will be three bands - 10%, 15%, and 20% - representing how bad the US president thinks each country's barriers to trade are.

7 hours ago17:46 Rebecca Robinson

Allan Monks of JP Morgan said: "Even if the UK avoids tariffs, recession risks are rising. Employment prospects have already weakened as businesses adjust to higher domestic taxes.

"But global sentiment appears set to be adversely affected, particularly as a blanket approach to applying tariffs on all countries would amplify the adverse inflation and growth consequences for the US."

8 hours ago17:07 Rebecca Robinson

The National Institute of Economic and Social Research said: “Our estimates also show that the UK economy is vulnerable to the negative effects of US tariffs through both direct and indirect channels.

“We find that tariffs raise prices and weaken economic activity in the United Kingdom, with the size of the effects depending on the scope of the tariffs.

“Even if the UK were exempt from these tariffs, economic activity could still suffer due to broader global disruptions. In a worst-case scenario where high tariffs are applied, UK GDP growth could fall to zero next year.”

9 hours ago16:11 Rebecca Robinson

The Prime Minister said: “We need to be calm and pragmatic. I think that’s what workers and businesses in Northern Ireland would want to see from this government at a time like this.

“We are, as he would expect, looking carefully at the details of any retaliatory tariffs announced by the EU if they are and what impact they might have on businesses.

“As he knows, where goods do not enter the EU, then businesses can claim a full reimbursement of any EU duties paid, but I reassure him the interests of Northern Ireland are at the forefront of our decisions.”

9 hours ago15:45 Rebecca Robinson

The Chancellor said: “We are still in discussions with our counterparts in the United States… We don’t want to be posturing here.

“The prize on offer is a good economic agreement between us and the United States. We won’t do anything to put that in jeopardy, we’re not going to rush into action to get a quick headline. We are focused on doing what is right for our country, businesses operating here and working people here.”

9 hours ago15:30 Rebecca Robinson

Jim Reid at Deutsche Bank said: "Calculations show that previously announced measures already bring us to a 12% average tariff rate – the highest since World War II.

"Today’s announcement could increase this to 18%, according to our economists, and potentially even higher if the reported near-universal 20% tariff option is implemented.

"This would approach the levels seen in the early 1930s after the Smoot-Hawley Tariff Act, though likely remaining below the very protectionist rates of the early 20th century. This earlier period has been cited by Trump and Lutnick as a golden era for the US.

"Clearly, any announcement today will be subject to negotiation, but the starting point will likely be era-defining."

10 hours ago15:13 Rebecca Robinson

Belgium is expected to avoid the worst fallout from Donald Trump's tariffs, though it will still see some impacts, The Telegraph reports.

The taxes are expected to impact pharmaceuticals, vehicles, machines, chemical products and precious metals exports - which ould cost the economy £418 million.

10 hours ago14:40 Toby Codd

Ireland's premier Micheal Martin said the looming tariffs are the “most serious issue” to face the Irish economy, adding that the scale of tariffs will be very significant.

Tariffs on all Irish exports will lead to higher costs, particularly in the pharma sector.

Mr Martin told the Irish parliament that neither Ireland nor the EU started the threat of tariffs.

10 hours ago14:26 Toby Codd

Trump previously announced a 25% tax will be introduced on all cars imported to the USA. Auto Express is urging the government to support the UK automotive industry which is “the backbone for the nation’s manufacturing sector” in a “service-based economy”.

Tom Jervis consumer reporter at Auto Express said: “The writing has been on the wall for a while now when it comes to President Trump imposing some kind of tariff on automotive imports into the US; he threatened last week that it could be as high as 25%. And while we were hopeful that the UK could carve out a deal before duties were imposed, today has the potential to be a huge blow to the nation’s struggling car industry.

“Last year, roughly £9 billion worth of cars were imported to the States from the UK, which accounts for around 15 per cent of all of our exports to the USA. However, tariffs go beyond just the automotive industry as studies have estimated blanket tariffs could see global UK exports fall by as much as 2.6 per cent – that may seem like a small figure, but we’re talking about losses of tens of billions of pounds.

 “Ultimately, however, it’s the blue-collar worker and consumer that will be affected the most; despite being our biggest export, the UK automotive manufacturing sector is already struggling due to fallout from the tough ZEV mandate and increased competition from abroad – particularly from China.

 “These tariffs from Trump could, in a very worse-case scenario, see UK factories close in favour of new facilities being opened up in the US, or perhaps more likely, instigate hundreds or even thousands of job losses as firms scramble to cut manufacturing costs further. Either way, this will also impact the UK economy, meaning that everyone will be worse off as a result.

 “As international talks continue, all we ask is that the government supports the UK automotive industry, as it’s the backbone for the nation’s manufacturing sector in an age where we have effectively become a service-based economy."

11 hours ago14:04 Toby Codd

Northern Ireland Secretary Hilary Benn has said “there is an issue in respect to Northern Ireland” if the EU imposes retaliatory tariffs on the US.

Mr Benn told MPs that any impact of tariffs from the US would be “felt equally” across the UK but if the EU responds with their own tariffs then businesses may have to demonstrate that goods imported from the US are not leaving the UK to have the expenses reimbursed.

11 hours ago13:53 Toby Codd

The chief executive of luxury grocer Fortnum & Mason has warned that Donald Trump's tariffs will push up prices for US shoppers. This is because retailers are operting on thin margins.

Tom Athron told The Telegraph: “Ultimately it will be the consumer who pays. No one wins in a trade war.

"All that happens is that prices go up and productivity falls. I think it’s really disappointing that we find ourselves in this situation.”

11 hours ago13:34 Toby Codd

11 hours ago13:17 Toby Codd

Sir Keir Starmer has said the Government has “prepared for all eventualities” and is working with companies likely to be hit by US President Donald Trump’s tariffs.

At Prime Minister’s Questions, Sir Keir told MPs: “Let me be clear with the House, a trade war is in nobody’s interests 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 with 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.”

12 hours ago13:15 Toby Codd

Sir Keir Starmer has rejected Ed Davey's call for him to lead an economic coalition against the US. He said the Lib Deam leader is trying to make him take a false choice between the US and Europe.

He said: "I think that’s the wrong choice on defence, on security intelligence, for reasons that we’ve rehearsed across this chamber. I also think it’s wrong on trade and the economy.

"We have a balanced trade relationship with the US, and I believe that our interests are best served by calmly trying to secure a deal which is in our national interest, whilst at the same time preparing and leaving all options on the table."

12 hours ago13:00 Toby Codd

Tory leader Kemi Badenoch has accused Sir Keir Starmer of making decisions that have left the UK economy "fragile" ahead of a potential global trade war.

She told Prime Minister’s Questions: “In November, I urged him to seize the draft US trade deal the Conservatives negotiated. Instead he lost our most-experienced trade negotiator. It’s no wonder he can’t get a tariff deal for British cars.”

She added: “Labour’s record is a car industry in crisis. Even before tariffs there are 25,000 more jobs now at risk.

"He says he’s preparing for every eventuality, can the Prime Minister tell us exactly what he’s doing to protect the British car industry from his failure to negotiate?”

Prime Minister Sir Keir replied: “We’re taking a calm, pragmatic approach and keeping our feet on the ground. There are constructive talks that are ongoing on a wider economic prosperity deal with the US, that is really important at this moment.

“We are working with all sectors that are likely to be impacted and we’re guided by our national interest at all times and that’s why we’ve said we won’t rule anything out.

“But it is important at a moment like this that we don’t have knee-jerk reactions, that we’re actually cool-headed about this and that’s why we won’t rule anything out. But she was the trade secretary who failed to get a trade deal with the US.”

12 hours ago12:46 Toby Codd

Sir Keir Starmer said that the government is prepared for "all eventualities" during Prime Minister's Questions in the Commons.

"Let me be clear with the House, a trade war is in nobody's interests, and the country deserves, and we will take a calm, pragmatic approach," he added.

Sir Keir Starmer (Image: Getty)

12 hours ago12:26 Toby Codd

Britain must slash red tape, move beyond Brexit and work more closely with the European Union amid Donald Trump's "completely absurd" trade war, an expert has said.

The US President promises to shake the foundations of global trade on Wednesday (April 2) by imposing sweeping new tariffs on almost all of the United States' major trading partners.

For the full story, click here.

12 hours ago12:24 Toby Codd

European Central Bank head Christine Lagarde 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,” she said in an interview on Ireland’s Newstalk radio.

“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.”

13 hours ago12:04 Toby Codd

Goldman Sachs has downgraded its forecasts for UK economic growth ahead of Donald Trump's tariffs.

The UK is now expected to see growth of 0.8% this year which is down from 0.9%. Meanwhile, the figure for 2026 has dropped from 1.3% to 1.2%.

13 hours ago11:53 Lauran O'Toole

President Donald Trump’s 'Liberation Day' tariffs will be negative across the world, warns European Central Bank head Christine Lagarde.

“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,” she said in an interview on Ireland’s Newstalk radio.

13 hours ago11:42 Lauran O'Toole

Donald Trump is expected to speak at around 9pm UK time (Image: Getty)

13 hours ago11:33 Toby Codd

Lib Dem foreign affairs spokesperson Calum Miller said: "Despite weeks of refusing to criticise Donald Trump’s damaging behaviour, it’s now increasingly apparent that the government will not secure a carve out for the UK ahead of Trump’s global tariff war.

"Trump has shown himself to be an unreliable partner on the economy. No one, not even the US’s oldest allies, are safe from the economic harm reaped by this White House.

"We need to end this trade war as quickly as possible. That means working with our Canadian and European allies in a united front against Trump, including retaliatory tariffs where necessary – as well as negotiating a bespoke new customs union agreement with the EU to better protect British businesses."

13 hours ago11:23 Lauran O'Toole

A top defence expert has revealed a weakness in Britain’s nuclear deterrent amid increasing concerns over American commitment to European security.

Defence analyst Professor Michael Clarke told BFBS Forces News: "The fact that we've only got one boat on patrol means that if we used our weapons tactically... we could actually fire an unboosted primary of one or two kilotons or four or five kilotons, which would be pretty small by nuclear standards. But using them in a tactical way would reveal where the boat is."

It comes as a former US ambassador to NATO warns that allied faith in Washington has “shattered” and that it is “very possible” the Trump administration could leave the alliance.

Donald Trump has suggested he wouldn't defend allies not spending enough on defence (Image: Getty)

14 hours ago11:05 Lauran O'Toole

The pound has remained steady this morning as global markets hold their breath ahead of Donald Trump’s tariff announcement.

This comes after stock markets across the world fell heavily on Monday after Donald Trump suggested that new tariffs he is expected to announce this week would hit “all countries”.

President Trump told reporters on Air Force One: “You’d start with all countries. Essentially all of the countries that we’re talking about.”

The pound has remained steady so far this morning (Image: Getty)

14 hours ago10:45 Toby Codd

Donald Trump has called India the "tariff king" and an abuser of trade ties.

Karoline Leavitt, the White House press secretary, said: "If you look at the unfair trade practices that we have, you have a 100% tariff from India on American agricultural products.

"This makes it virtually impossible for American products to be imported into these markets, and it puts a lot of Americans out of business and out of work over the past several decades."

15 hours ago10:15 Toby Codd

Keir Starmer and Rachel Reeves will both face questions from MPs today ahead of Tump's tariff announcement.

The prime minister and the chancellor will be grilled at PMQ’s in the Commons at midday.

15 hours ago10:03 Toby Codd

Oliver Chapman, Group CEO of supply chain management company OCI, said: "The automotive industry will be heavily impacted by 'Liberation Day' as described by Trump's tariffs announcement.

"Germany will likely be impacted the most with a 25 per cent tariff on foreign-made vehicles. This is an effort to get more Americans to buy domestically produced vehicles."

15 hours ago09:37 Toby Codd

Gold prices have risen amid speculation on the 'liveration day' tariff announcement. Ricardo Evangelisa, analyst at ActivTrades, said further increases are possible as gold becomes a popular investment during times of uncertainty.

He said: “Following the recent gains, the outlook for gold prices remains skewed to the upside, with further increases possible. Uncertainty surrounding the impact of the US administration’s protectionist policies is fueling concerns about global economic growth, prompting a shift away from risk-related assets such as stocks towards safe havens, which supports gold.

"If the tariffs set to take effect today are implemented, demand for safe-haven assets could rise further, as this scenario has not yet been fully priced in.

"Gold’s appeal as an investment typically strengthens during times of uncertainty. This was evident during the 2008 financial crisis, when the price of the precious metal first reached $1,000, and again in 2020 during the pandemic, when it surpassed $2,000 for the first time.

"A similar pattern is unfolding now, with bullion reaching $3,000 as investors look to safeguard their portfolios against the prevailing uncertainty and market volatility."

15 hours ago09:31 Toby Codd

European stocks are continuing to drop today ahead of Donald Trump's tariff announcements.

The FTSE 100 is down more than half a per cent now and GSK's losses have extended to 3.6 per cent.

16 hours ago09:15 Toby Codd

Shadow housing minister Kevin Hollinrake was asked on SKy News about how the UK should respond to any tariffs.

He said "you can't take" retaliatory tariffs "off the table". He says that, as a businessman, Trump would not "respect you if you did".

16 hours ago08:52 Toby Codd

Donald Trump hopes the tariffs will boost the UK economy by making domestic goods cheaper than imported ones.

The tariffs will raise the price of imported goods and make them less affordable for consumers.

16 hours ago08:27 Toby Codd

Bridget Phillipson 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."

Asked whether the Government would consider abandoning its fiscal rules in the event of exceptional trade circumstances, she said: "I’m not going to speculate on hypotheticals, not least because those negotiations are still under way.

"We’re working incredibly hard to secure a deal that’s in Britain’s national interest, but fiscal rules do matter.

"They matter because we have to demonstrate that we have a clear sense about how we manage the public finances.

"I think your viewers will have seen in recent years with the Liz Truss government, what happens when you have a government that doesn’t have a grip on the public finances and isn’t prepared to make choices about priorities, and our fiscal rules are important, and they do matter."

(Image: Getty)

17 hours ago08:11 Toby Codd

17 hours ago07:57 Toby Codd

The education secretary told Times Radio: "Our teams are working at pace, have been working really hard in recent weeks, to put us in the best possible position to secure a deal.

"But I think we all recognise this is going to be a difficult period, but there won't be any knee-jerk reactions from this Government.

"We will reserve all our options in terms of the responses that are available to us, but our focus at the moment is on continuing those discussions and seeking to get a good deal, that's in the national interest.”

17 hours ago07:36 Toby Codd

Kari Starmer and Donald Trump (Image: Getty)

17 hours ago07:18 Toby Codd

18 hours ago07:08 Toby Codd

Donald Trump's tariffs could cost at least 25,000 jobs in the UK's car industry. It's reported that around one in five manufacturing jobs in the sector are at risk.

The US President is planning an extra 25% levy on all US car imports.

18 hours ago07:00 Lauran O'Toole

'Liberation day' was initally meant to be on April 1. But the US President decided to shift it by a day because he didn’t want anyone to think it was an April fool.

Trump said his levies will impact "all countries", but they are expected to particularly impact countries with the largest trade imbalances with the US. These include: China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada, India, Thailand, and Malaysia.

18 hours ago06:57 Lauran O'Toole

It was very telling that President Trump was not seen at all yesterday.

He and all his advisers were huddled away from the cameras, finalising the tariff plans.

Trump will unveil his tariff plan today in his first Rose Garden press conference of his second term.

White House press secretary Karoline Leavitt said he will announce a “country-based tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades.”

18 hours ago06:52 Lauran O'Toole

Tariffs imposed by Trump may spell a big economic crisis for Japan, says a senior Japanese lawmaker.

"I personally feel that this may become a big economic crisis for Japan,” LDP policy chief Itsunori Onodera said yesterday, according to Japan Times.

Asian stocks fell this morning as nvestors fret about an intensifying global trade war.

Experts fear a policy of wide-ranging levies on foreign goods could tip the US into a recession risking a slowdown for businesses.

18 hours ago06:50 Lauran O'Toole

Good morning and welcome to our live blog.

'Liberation Day' is here. The message from the US president has been consistent - tariffs are coming on Wednesday but the plan has largely remained a mystery with the size and scope of the barriers unknown.