Rolling coverage of the latest economic and financial news
European markets have opened a bit lower this morning, as investors digest the news of Trump’s latest 10% tariff.
The UK’s blue chip FTSE 100 index has dropped 0.25%. In Italy the FTSE MIB has dropped 0.4%, the German Dax is down 0.2% and the French Cac 40 is down by 0.1%.
It is far from clear what will happen next, and whether a higher tariff rate is still on the way. Despite the immediate reprieve, there is fresh uncertainty for UK firms exporting goods to the US.
This makes it very difficult for firms to understand the prices and margins they will be able to secure for their goods, currently under production, for export in several months’ time. Inevitably this will have an impact on their sales and hit the economy.