- UK markets rallied after Donald Trump announced a 90-day pause on his sweeping tariffs, with the FTSE 100 rising over 6 per cent.
- Despite the market rebound, Home Secretary Yvette Cooper urged caution, citing ongoing global instability.
- Trump's pause involves a 90-day delay on tariffs for most nations while increasing the tax rate on Chinese imports to 125 per cent. A 10 per cent levy remains on goods entering the US.
- Cars, steel, and aluminum imports to the US are still subject to a 25 per cent tariff.
- Chancellor Rachel Reeves plans to negotiate with the US during the IMF's spring meeting, while Conservative leader Kemi Badenoch suggests collaborating with trans-Pacific trading partners to mitigate the impact of US tariffs.
IN FULL