China set to impose extra tariffs of 84% on US goods
0 seconds of 49 seconds Volume 0%
Press shift question mark to access a list of keyboard shortcuts Keyboard Shortcuts EnabledDisabled
Shortcuts Open/Close / or ?
Play/Pause SPACE
Increase Volume ↑
Decrease Volume ↓
Seek Forward →
Seek Backward ←
Captions On/Off c
Fullscreen/Exit Fullscreen f
Mute/Unmute m
Decrease Caption Size -
Increase Caption Size + or =
Seek % 0-9
Next Up
Trade war: China announces retaliatory tariffs on US goods
00:46
x facebook Email Link https://cdn.jwplayer.com/previews/XIBMbAxT Copied
Auto540p 1080p 720p 540p 360p 270p 180p
Live
00:12
00:36
00:49
More Videos
00:46
Trade war: China announces retaliatory tariffs on US goods
00:48
CNN presenter uses whiteboard during Trump tariff interview
01:08
Tutankhamun skeleton CT shows 'distinctive skull shape'
00:40
Trade war: China to impose tariffs on US goods worth $60 billion
01:22
CCTV appears to show couple allegedly putting glass in their food
00:58
Trump announces he will hit China with $60bn tariffs
Close
Stock markets in the UK and Europe tumbled again on Wednesday after the US and China ramped up tariffs on each other amid Donald Trump’s continuing trade war. The London FTSE 100 slumped 2.9% to a 13-month low, while the FTSE 250 closed 2.5% lower than it opened on Wednesday morning.
Europe’s continent-wide Stoxx 600 plummeted by more than 4%, Germany’s Dax fell 2.96% and France’s Cac 40 slumped 3.34%, after the EU agreed to slap 25% retaliatory tariffs on ￡18billion of US goods. The market chaos came after China raised its duties on US goods to 84% in response to the American president hiking his tariffs on the second-largest economy from 34% to 104%. Mr Trump stuck firmly to his course of action despite the global economic turmoil, taking to his Truth Social platform to call on firms to move to the US and avoid tariffs.
(Last Day 50% OFF) Men's Handmade Genuine Leather Slip-On LoafersLarucoarto？| Sponsored Sponsored
Shop Now
Undo
DON'T MISS
Powered by
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
UK households urged to stockpile kitchen tin foil as soon as possible
25 Comments
Global recession fears rise as stock market crash follows Trump's tariff policies
52 Comments
Trump humiliated as China keeps US President 'waiting' on tariffs
19 Comments
China takes new revenge against Donald Trump tariffs and Hollywood will be fuming
21 Comments
Brexit may spare Britain the worst from Donald trump's tariffs bombshell
328 Comments
Keir Starmer warns Donald Trump's tariff chaos is a 'new era' and 'world has changed'
26 Comments
Stock markets LIVE: Trump nightmare as China's 34% tariffs move sends markets in free fall
153 Comments
Avoid These 4 Foods Linked to Memory LossPrimal Health| Sponsored Sponsored
Learn More
Undo
Donald Trump sparks major economic war with China over 50% import tariffs
6 Comments
Rachel Reeves dealt biggest crisis yet as UK borrowing costs hit 27-year record high
15 Comments
Relive Your TravelsMixbook| Sponsored Sponsored
Start Now
Undo
Keir Starmer breaks silence on tax hikes amid Donald Trump tariff chaos
27 Comments
Brexit 'saved UK from even worse Trump tariffs' as stock market recovers
64 Comments
Young Woman Keeps Making Hand Signals on Plane – Flight Attendant Quickly Alerts AuthoritiesStoryinfospace| Sponsored Sponsored
Learn More
Undo
Donald Trump breaks silence on UK trade tariffs as he reveals how Keir Starmer felt
138 Comments
Donald Trump's tariffs spark economic turmoil around the world as allies demand a u-turn
38 Comments
Redesigned Hyundai Palisade Disrupts Auto Industry (Competition Scrambles For Answers)Latest SUVs| Sponsored Sponsored
Undo
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
Anna Kournikova Turn Heads As She Wears Her Beautiful Red DressHouseCultures| Sponsored Sponsored
Undo
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Southern Signs That Are So Funny, They Seem UnrealHouseCultures| Sponsored Sponsored
Undo
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
Best Smart Scales of 2024 Reviewed by ExpertsDocReviews| Sponsored Sponsored
Learn More
Undo
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
UK households urged to stockpile kitchen tin foil as soon as possible
25 Comments
What Life Was Like 50 Years Ago Compared to NowCountry Living| Sponsored Sponsored
Undo
Global recession fears rise as stock market crash follows Trump's tariff policies
52 Comments
Trump humiliated as China keeps US President 'waiting' on tariffs
19 Comments
Rules You Didn't Know 'Survivor' Contestants Have to FollowCosmopolitan| Sponsored Sponsored
Undo
China takes new revenge against Donald Trump tariffs and Hollywood will be fuming
21 Comments
Brexit may spare Britain the worst from Donald trump's tariffs bombshell
328 Comments
Join a Clinical TrialLilly Trials| Sponsored Sponsored
Learn More
Undo
Keir Starmer warns Donald Trump's tariff chaos is a 'new era' and 'world has changed'
26 Comments
Stock markets LIVE: Trump nightmare as China's 34% tariffs move sends markets in free fall
153 Comments
Donald Trump sparks major economic war with China over 50% import tariffs
6 Comments
Rachel Reeves dealt biggest crisis yet as UK borrowing costs hit 27-year record high
15 Comments
Keir Starmer breaks silence on tax hikes amid Donald Trump tariff chaos
27 Comments
Brexit 'saved UK from even worse Trump tariffs' as stock market recovers
64 Comments
Donald Trump breaks silence on UK trade tariffs as he reveals how Keir Starmer felt
138 Comments
Donald Trump's tariffs spark economic turmoil around the world as allies demand a u-turn
38 Comments
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
READ MORE: Rachel Reeves dealt biggest crisis yet as UK borrowing costs hit 27-year high
The FTSE closed at a 13-month low on Wednesday (Image: PA)
He said: “This is a great time to move your company into the United States of America.
“Zero tariffs, and almost immediate electrical/energy hook-ups and approvals. No environmental delays. Don’t wait, do it now!"
The market turbulence also caused turmoil with the UK Government’s spending plans, as borrowing costs hit their highest level in nearly 30 years.
Sponsored
DocReviews| Sponsored Sponsored
Learn More
Top 10 Blood Pressure Monitors of 2024 Reviewed by Doctors
Undo
Government gilts rose to 5.65% on Wednesday, a level not seen since 1998 and higher than in the fallout from Liz Truss’s mini-Budget.
The cost also surpassed the previous record high seen in January, which forced Rachel Reeves to announce major spending cuts in last week’s spring statement in order to stick to her self-imposed spending rules.
Should the cost of gilts remain high, meaning it is more expensive for the Government to borrow money, it would force the Chancellor to announce further spending cuts or tax hikes in her Budget later this year.
Don't miss...
Keir Starmer breaks silence on tax hikes amid Donald Trump tariff chaos [LATEST]
Donald Trump to make UK tariff announcement ‘as early as today’ [LATEST]
Fuming Nigel Farage loses it at 'cowardly' Labour in huge grooming gangs row [LATEST]
Donald Trump's tariffs have continued to cause chaos (Image: PA)
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy
Chris Beauchamp, chief market analyst at IG Group, explained: “While this is nothing compared to the mini-Budget-induced surge of 2022, it certainly piles on the pressure for Rachel Reeves.
“She can legitimately point to the crisis being manufactured in the US, but that is small comfort when the UK economy may well be on its way to a recession.
“The Government will find its room for manoeuvre limited unless the Chancellor drops her fiscal rules.”
Both Sir Keir and Ms Reeves have insisted the Government will stick to its fiscal rules come what may, reducing its flexibility to deal with the economic turmoil.
Speaking on Wednesday, the Prime Minister said he did not know whether the 10% tariffs levied on British exports to the US would be in place forever.
He said: “We are negotiating and we hope to improve the situation, but what I mean by this is that simply thinking that any change in the rates or any deal is going to be enough to my mind is wrong.
Trending
“Because just as we’ve done with defence and security, where we’ve recognised it’s a changing world, we’ve got to step up and act differently.
“In that case with defence spend, co-ordinating better across Europe, so too with trade and the economy.”
He said the Government will pursue more favourable trading opportunities with countries across the world.
Also on Wednesday, the Treasury announced a ￡400million trade and investment agreement with India in order to boost co-operation across a range of sectors.
Hailing the deal, Ms Reeves said it was “imperative we go further and faster to kick-start economic growth. We have listened to British businesses, which is why we’re negotiating trade deals with countries across the world, including India, so we can support them and put more money in people’s pockets as part of our Plan for Change.
DON'T MISS
Powered by
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
UK households urged to stockpile kitchen tin foil as soon as possible
25 Comments
Global recession fears rise as stock market crash follows Trump's tariff policies
52 Comments
Trump humiliated as China keeps US President 'waiting' on tariffs
19 Comments
China takes new revenge against Donald Trump tariffs and Hollywood will be fuming
21 Comments
Brexit may spare Britain the worst from Donald trump's tariffs bombshell
328 Comments
Keir Starmer warns Donald Trump's tariff chaos is a 'new era' and 'world has changed'
26 Comments
Stock markets LIVE: Trump nightmare as China's 34% tariffs move sends markets in free fall
153 Comments
What Famous Bald Actors Looked Like When They Had HairMen's Health| Sponsored Sponsored
Undo
Donald Trump sparks major economic war with China over 50% import tariffs
6 Comments
Rachel Reeves dealt biggest crisis yet as UK borrowing costs hit 27-year record high
15 Comments
Chelsea Clinton, 44, Drives Probably the Most Expensive Car in the WorldThe Latest Article| Sponsored Sponsored
Undo
Keir Starmer breaks silence on tax hikes amid Donald Trump tariff chaos
27 Comments
Brexit 'saved UK from even worse Trump tariffs' as stock market recovers
64 Comments
Former Insurance CEO: Slash Rates Without Losing CoverageComparisons | Auto Insurance| Sponsored Sponsored
Learn More
Undo
Donald Trump breaks silence on UK trade tariffs as he reveals how Keir Starmer felt
138 Comments
Donald Trump's tariffs spark economic turmoil around the world as allies demand a u-turn
38 Comments
Get Mom This—Not FlowersMixbook| Sponsored Sponsored
Start Now
Undo
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
Cutest Mother’s Day Gift Ever – Personalized Bear Family!Perfect gift for family| Sponsored Sponsored
Shop Now
Undo
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Las Vegas: Lookup Anyone's Home Value Instantly by Address (Take a Look)Easy Home Value Lookup| Sponsored Sponsored
Undo
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
This wreath is perfect for display on Memorial Day, Flag Day, the Fourth of July, and Veteran’s Day.Kaittly| Sponsored Sponsored
Shop Now
Undo
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
UK households urged to stockpile kitchen tin foil as soon as possible
25 Comments
My Stepdad Tried To Take My $4M Inheritance. He Regrets Messing With Me Now.universalinfonet.com| Sponsored Sponsored
Undo
Global recession fears rise as stock market crash follows Trump's tariff policies
52 Comments
Trump humiliated as China keeps US President 'waiting' on tariffs
19 Comments
The All-New Hyundai Palisade is Sheer Perfection (Take a Peek Inside)Auto Trends Now| Sponsored Sponsored
Undo
China takes new revenge against Donald Trump tariffs and Hollywood will be fuming
21 Comments
Brexit may spare Britain the worst from Donald trump's tariffs bombshell
328 Comments
All New Hyundai Palisade Is Blowing Americans Away (Take A Look)Hottest SUVs Today| Sponsored Sponsored
Undo
Keir Starmer warns Donald Trump's tariff chaos is a 'new era' and 'world has changed'
26 Comments
Stock markets LIVE: Trump nightmare as China's 34% tariffs move sends markets in free fall
153 Comments
Donald Trump sparks major economic war with China over 50% import tariffs
6 Comments
Rachel Reeves dealt biggest crisis yet as UK borrowing costs hit 27-year record high
15 Comments
Keir Starmer breaks silence on tax hikes amid Donald Trump tariff chaos
27 Comments
Brexit 'saved UK from even worse Trump tariffs' as stock market recovers
64 Comments
Donald Trump breaks silence on UK trade tariffs as he reveals how Keir Starmer felt
138 Comments
Donald Trump's tariffs spark economic turmoil around the world as allies demand a u-turn
38 Comments
Donald Trump begs Americans 'don't panic, don't be stupid' as stock market plummets
374 Comments
FTSE 100 crash: Stocks in Rolls-Royce, Barclays, Amazon and McDonalds plummet
2 Comments
China vows to 'fight until the end' after Donald Trump's new tariff threat
5 Comments
JD Vance sparks economic turmoil as China lashes out at 'ignorant' US Vice President
21 Comments
Sky News halted for breaking announcement about Trump's tariffs
Comments
Rachel Reeves rejects calls for a 'Buy British' campaign in 'insult' to UK businesses
40 Comments
Parliament halted for emergency Rachel Reeves announcement on Donald Trump's tariffs
85 Comments
Grimes reveals health diagnosis she received last yearOhmymag
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Take Charge of Fungus-Affected NailsOkita
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
The Best Gift for Mother's Day: Bear Family with Names!Perfect gift for family
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
She Asked Me to Babysit for an Hour—Then Vanished for 7 Yearslorebloom.com
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
“Our relationship with India is longstanding and broad and I am delighted with the progress made throughout this dialogue to develop it further.”
On Tuesday night, Mr Trump sparked further anxiety as he promised he would shortly be slapping “major” tariffs on pharmaceutical imports into America.
This would be another blow for Britain following the president’s 25% tariffs on the car sector, particularly given the ￡8.8billion-worth of medical goods shipped across the Atlantic in 2023.