A 10 percent tariff on UK imports into the United States came into effect on Saturday. This action marked the beginning of increased taxes on goods from various countries, initiated by President Donald Trump.
The initial 10 percent tariff was implemented at US seaports, airports, and customs warehouses at 12:01 am ET. Further, higher tariffs on goods from 57 major trading partners were scheduled to begin the following week.
The UK's FTSE-100 stock market experienced its most significant single-day decline since the onset of the Covid-19 pandemic on Friday. This drop concluded a week of market instability worldwide, triggered by Mr. Trump's new tariff policies.
Italy's foreign minister, Giancarlo Giorgetti, cautioned against retaliatory tariffs on the US. He stated that such counter-measures would be detrimental to all parties involved, particularly Italy.
Sir Keir Starmer is scheduled to engage in discussions with global leaders over the weekend as nations consider their responses to the tariffs.
China stated that the market had already expressed its disapproval of Mr. Trump's tariffs and urged the US to rectify the situation by resolving trade disputes with its partners.
12 Comments
Matzomaster
This is going to be a disaster for business. I'm very worried to see how it will affect our industry!
Karamba
The stock market's just reacting to the news. It will eventually settle. This is about the long term.
Rotfront
Strong leadership! Finally, someone is standing up to globalist forces. It's about time!
Cerebro
Good luck explaining rising prices to voters. Economic growth just got a whole lot harder.
Muchacho
This is a negotiating tactic. He's playing hardball to get better trade deals.
ZmeeLove
China's right. The market is already showing its disapproval. He needs to listen. A leader should listen!
Habibi
He is holding leaders accountable! We're taking back control and taking back jobs!
Africa
Finally! Protecting American jobs and industries! About time we took a stand against unfair trade practices.
Comandante
The stock market tanked! This is pure economic recklessness. My retirement is going down the drain.
Bella Ciao
Trump's just trying to 'own the libs' with these tariffs, but the real victims are working-class families.
Muchacha
Good! Let other countries pay their fair share. This is an issue of sovereignty.
Mariposa
Italy's Foreign Minister is right. We need diplomacy, not tariffs. This is a global issue requiring cooperation, not a power grab.