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Donald Trump’s baseline tariff of 10% on products from all countries worldwide has taken effect.

The blanket tariff was announced by the US president on Wednesday evening, when his speech on so-called “Liberation Day” sent shockwaves across the global stock market as he unleashed sweeping taxes on imports.

Much higher tariffs against what Mr Trump branded as the “worst offenders”, such as a 20% rate for the EU and a 34% one for China, are set for 9 April.

A 25% tariff imposed on all foreign cars imported into the US came into effect on Thursday.

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How tariffs have impacted world’s richest men

The baseline tariff came into place as stock markets plummeted amid a trade war sparked by Mr Trump’s radical measures and China’s retaliatory tariffs of 34% on US imports from 10 April.

How markets reacted

The UK’s leading stock market, the FTSE 100, suffered its worst daily drop in more than five years, closing on Friday 4.95% down, a level not seen since March 2020.

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All three of the US’s major indexes, including The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, were down by more than 5% at market close on Friday, making for the worst day in American markets since the COVID-19 pandemic.

Ever since the US president announced the tariffs, analysts estimate that around $4.9trn (£3.8trn) has been wiped off the value of the global stock market.

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As stock markets reeled, Mr Trump was largely out of public view at his golf course where he sent multiple defiant social media messages guaranteeing victory for the US economy.

One of his messages on Truth Social read: “Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!”

How has the UK responded?

The UK will be affected by the 10% tariff.

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How did PM address Trump’s tariffs? Sky’s Beth Rigby explains

Prime Minister Sir Keir Starmer spoke to Australian Prime Minister Anthony Albanese and Italian Premier Giorgia Meloni, Downing Street said.

Issuing a read-out of their separate conversations on Friday, Number 10 said the leaders “all agreed that an all-out trade war would be extremely damaging”.

A spokesperson said the PM “has been clear the UK’s response will be guided by the national interest” and officials will “calmly continue with our preparatory work, rather than rush to retaliate”.

Read more:
Do Trump’s ‘Liberation Day’ tariff numbers add up?
Donald Trump announces sweeping global trade tariffs

U.S. President Donald Trump gestures as he disembarks Air Force One as he arrives at Miami International Airport in Miami, Florida, U.S., April 3, 2025. REUTERS/Kent Nishimura
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Mr Trump believes the tariffs will ‘supercharge’ the US economy. File pic: Reuters

The spokesperson added: “He discussed this approach with both leaders, acknowledging that while the global economic landscape has shifted this week, it has been clear for a long time that like-minded countries must maintain strong relationships and dialogue to ensure our mutual security and maintain economic stability.”

It is expected Sir Keir will take further calls with international leaders over the weekend.

Experts have predicted that UK economic growth – already expected to amount to just 1% this year – could be up to 0.5 percentage points lower than expected over coming years as a result of the tariffs.

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Labour MP Dan Norris arrested on suspicion of rape and child sex offences

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Labour MP Dan Norris arrested on suspicion of rape and child sex offences

Labour MP Dan Norris has been arrested on suspicion of rape and child sex offences.

A Labour Party spokesperson said: “Dan Norris MP was immediately suspended by the Labour Party upon being informed of his arrest.

“We cannot comment further while the police investigation is ongoing.”

Police said a man in his 60s had been arrested on Friday on suspicion of sexual offences against a girl, rape, child abduction and misconduct in a public office.

Sky News has contacted Mr Norris for comment.

Mr Norris, 65, defeated Jacob Rees-Mogg to win the new seat of North East Somerset and Hanham in last year’s general election.

He has also lost the party whip in the House of Commons and has stepped down from his role as chair of the League Against Cruel Sports.

Avon and Somerset Police said in a statement: “In December 2024, we received a referral from another police force relating to alleged non-recent child sex offences having been committed against a girl.

“Most of the offences are alleged to have occurred in the 2000s, but we’re also investigating an alleged offence of rape from the 2020s.

“An investigation, led by officers within Operation Bluestone, our dedicated rape and serious sexual assault investigation team, remains ongoing and at an early stage.

“The victim is being supported and given access to any specialist help or support she needs.

“A man, aged in his 60s, was arrested on Friday (April 4) on suspicion of sexual offences against a girl (under the Sexual Offences Act 1956), rape (under the Sexual Offences Act 2003), child abduction and misconduct in a public office. He’s been released on conditional bail for enquiries to continue.

“This is an active and sensitive investigation, so we’d respectfully ask people not to speculate on the circumstances so our enquiries can continue unhindered.”

Mr Norris first entered Parliament when Tony Blair came to power in 1997 and served as the Wansdyke MP until 2010.

He was an assistant whip under Mr Blair and served as a junior minister under Gordon Brown.

Mr Norris has also been West of England mayor since 2021 but is due to step down ahead of May’s local elections.

A spokesman for the League Against Cruel Sports, a UK-based animal welfare charity which campaigns to end sports such as fox hunting and game bird shooting, confirmed he had stepped down from his role.

“The charity cannot comment further while an investigation is ongoing,” a statement said.

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Jaguar Land Rover to ‘pause’ US shipments over Donald Trump tariffs

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Jaguar Land Rover to 'pause' US shipments over Donald Trump tariffs

Jaguar Land Rover (JLR) has said it will “pause” shipments to the US as the British car firm works to “address the new trading terms” of Donald Trump’s tariffs.

The US president has introduced a 25% levy on all foreign cars imported into the country, which came into force on Thursday.

JLR, one of the country’s biggest carmakers, exported about 38,000 cars to the US in the third quarter of 2024 – almost equal to the amount sold to the UK and the EU combined.

Follow live updates: Trump’s baseline 10% tariff kicks in

In a statement on Saturday, a spokesperson for the company behind the Jaguar, Land Rover and Range Rover brands said: “The USA is an important market for JLR’s luxury brands.

“As we work to address the new trading terms with our business partners, we are taking some short-term actions including a shipment pause in April, as we develop our mid- to longer-term plans.”

The company released a statement last week before Mr Trump announced a “baseline” 10% tariff on goods from around the world, which kicked in on Saturday morning, on what he called “liberation day”.

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JLR reassured customers its business was “resilient” and “accustomed to changing market conditions”.

“Our priorities now are delivering for our clients around the world and addressing these new US trading terms,” the firm said.

Trading across the world has been hit by Mr Trump’s tariff announcement at the White House on Wednesday.

All but one stock on the FTSE 100 fell on Friday – with Rolls-Royce, banks and miners among those to suffer the sharpest losses.

Read more: A red wall on Wall Street – but Trump seems to believe it will work out

Cars are the top product exported from the UK to the US, with exports worth £8.3bn in the year to the end of September 2024, according to data from the Office for National Statistics.

For UK carmakers, the US is the second largest export market behind the European Union.

Industry groups have previously warned the tariffs will force firms to rethink where they trade, while a report by thinktank the Institute for Public Policy Research said more than 25,000 car manufacturing jobs in the UK could be at risk.

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Two people die after caravan fire at holiday park in Lincolnshire

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Two people die after caravan fire at holiday park in Lincolnshire

Two people have died following a fire at a caravan site near Skegness, Lincolnshire Police have said.

In a statement, officers said they were called at 3.53am on Saturday to a report of a blaze at Golden Beach Holiday Park in the village of Ingoldmells.

Fire and rescue crews attended the scene, and two people were found to have died.

They were reported to be a 10-year-old girl and a 48-year-old man.

The force said the victims’ next of kin have been informed and will be supported by specially trained officers.

Officers are trying to establish the exact cause of the blaze.

“We are at the very early stages of our investigation and as such we are keeping an open mind,” the force said.

Two fire crews remain at the scene.

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