The US is waking up to its first day under Donald Trump’s new trade rules.
Yesterday, Wall Street closed one of its most volatile weeks in years, shaking investors and sending economic shockwaves around the world.
Here’s a quick look at what’s happened:
- New 10% import taxes on goods from most countries, including the UK, have now come into effect
- Products from dozens of countries – including major partners like China and the EU – will face even higher rates from 9 April
- On Friday, all three major US stock indexes dropped more than 5%, with the S&P 500 falling nearly 6%
- Markets in other parts of the world, including the UK, also saw sharp declines
- Trump is standing firm on the new tariffs – “hang tough,” he tells supporters on social media
- But some Americans are worried, with the head of the National Black Farmers Association saying the move adds uncertainty “at a critical time”
We’ll keep you updated – stay with us.
