Donald Trump’s worldwide baseline tariff of 10% has kicked in this morning. Global stocks were left reeling after they suffered a pounding for the second day in a row on Friday. In the UK, the FTSE suffered its worst day of trading in five years. Listen to Trump 100 analysis as you scroll.
Saturday 5 April 2025 09:36, UK
Live reporting by Kieren Williams
Nissan Motor is said to be considering shifting some domestic production of US-bound vehicles to the US, the Nikkei reported this morning.
The move would be trumpeted by Donald Trump as a win, as he has said he wants to reignite American industry with his tariffs.
It could happen as early as this summer.
The Japanese automaker is said to be planning to reduce production at its Fukuoka factory.
It would then shift some manufacturing of its Rogue SUV to the US to mitigate the impact of Trump’s tariffs, the report said.
On Thursday, Nissan said it would not take new orders from the US for two Mexican-built cars.
A bit of video reaction to bring you now from the chaos that has unfolded this week.
Watch below to learn more about Trump’s defiance in face of the market’s response to his tariffs and more.
We’re able to bring you some UK small business reaction to Donald Trump’s tariffs now.
Adam Sopher, co-founder and chief executive of popcorn brand Joe & Seth’s, spoke to Sky News Breakfast with Anna Jones about the problems a business like his faced.
He explained how this year the US was going to be their “focus market”, but they now feared customers would walk away over worries of price hikes linked to the tariffs
“We’ve got an immediate challenge around what our American sales look like this year,” he said.
He added: “But we’re lucky in that it’s a relatively small part of our business. We’ll hopefully try and increase our sales elsewhere.”
As a small business, Sopher said retailers would likely ask him to reduce his prices and absorb the cost of the tariffs.
“It’s for us to go, ‘can we afford that or do we just walk away from the situation?’ It’s been a really tough few years for small businesses,” he said.
The only silver lining, he added, was that because the UK had lower tariffs than other countries, it may be favoured by US businesses for trading.
Something to keep an eye out for now.
There are planned protests across the US today against President Donald Trump and his adviser billionaire Elon Musk.
More than 1,200 “Hands Off!” demonstrations have been planned by more than 150 groups – including civil rights organisations, labour unions, veterans, fair-election activists and LGBT+ advocates.
This includes a planned protest at the National Mall in Washington as well as locations in all 50 states.
They are in opposition to Trump’s actions: slashing the federal government, his handling of the economy and other issues.
Musk has played a key role in Trump’s second administration, leading efforts to downsize the federal government as head of the newly created Department of Government Efficiency.
Organisers hope today’s demonstrations will be the largest since Trump came to office.
Stick with us through the day and we’ll bring you anymore news from them.
Speaking of Musk, let’s see how Trump’s second term has impacted America’s richest men…
Tariff has quite quickly become the watch word of Donald Trump’s second term.
We’ve already reported this morning on what’s likely the biggest news story of the day relating to Trump’s tariffs – his 10% baseline tax kicking in.
However, there have already been some tariffs announced and there are more on the horizon.
So let’s run through some of what’s already happened, and what’s to come.
What was already announced before ‘liberation day’?
The following were all tariffs already announced ahead of 2 April.
They include tariffs on all cars imported into the US, as well as steel and aluminium.
Trump has said he wants to kickstart industry within the US, but there have been warnings US companies may suffer too.
A round up of the tariffs already announced:
What’s still to come?
Reciprocal tariffs targeting dozens of nations will come into effect later this week – 9 April.
There are some standout tariffs from this, including China – who have announced a retaliation – but have a look at them all below:
A US Senate “vote-a-rama” marathon session headed into the early hours of this morning in Washington.
The goal was for Republicans to hand President Donald Trump sweeping legislation to slash taxes and spending in the face of staunch Democratic opposition.
But there are fears the continued fallout from Trump’s tariffs could complicate efforts.
While Senate majority leader John Thune declared “let the voting begin” late on Friday, Democrats were intent on making the effort as politically painful as possible with votes on some 20 amendments.
It did manage to eventually get approval around 7.30am UK time.
Trump is pushing hard for what he calls “one big beautiful bill” that also would pay for additional resources for securing the US border with Mexico, deporting immigrants and bolstering the military.
However, some Republicans have said the path forward could be complicated by recession worries if the financial markets continue to reel.
“My concern is, if we are having the kind of conversation today three weeks from now, then the distraction will be so great that it will slow down what we try to do,” Republican senator Thom Tillis told reporters.
The bill typifies the fact that Trump has hung his hat on his tariffs – possibly already the defining word of his second term – and the rest of his legislative programme will exist in the shadow of them.
Since 2 April, when Donald Trump took to the Rose Garden and brandished the board of incoming tariffs, global stocks have taken a beating.
The three main US indexes finished Friday down more than 5%.
This marked the country’s worst week of trading in five years.
Here in the UK, the main share index, the FTSE 100, also endured one of its biggest one-day falls in five years – since the early COVID pandemic.
Worldwide, analysts estimated around $4.9trn (£3.8trn) was wiped off the global stock market since Wednesday evening.
Meanwhile, JP Morgan raised its global recession odds to 60% late on Friday – up from its previous prediction.
Let’s hope Sir Keir Starmer didn’t have any weekend plans.
The prime minister is expected to spend today and tomorrow speaking to foreign leaders about the tariffs.
He’s already held calls with Australia’s Anthony Albanese and Italy’s Giorgia Meloni on Friday.
Issuing a read-out of their separate conversations, Number 10 said the leaders “all agreed that an all-out trade war would be extremely damaging”.
“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,” the spokesperson added.
Ministers have so far tread carefully around being too critical of Donald Trump, with Mr Starmer seeming to build some bridges to Washington.
However, the government has drawn up a list of US products that could be hit in retaliation and is consulting with businesses over any counter measures as well.
As of 5am UK time, Donald Trump’s 10% worldwide tariffs kicked in.
US customs agents are now collecting the baseline tariff announced on 2 April – what the president branded “liberation day”.
However, there’s more ahead with specific reciprocal tariffs for what Mr Trump called the “worst offenders” coming in on 9 April.
The likes of Britain, Australia, Egypt, Colombia and Saudi Arabia are all hit by the move.
While there are some exemptions to the tax, including crude oil, pharmaceuticals and semiconductors, Mr Trump’s actions smash previously accepted trade norms.
A former White House trade adviser during Mr Trump’s first term, Kelly Ann Shaw, said: “This is the single biggest trade action of our lifetime.”
A small loophole will allow cargo and trade already loaded onto vessels and in transit to the US an extended grace period before being hit by the tariffs.
But otherwise it’s a brave new world for global trade.
Welcome back to our live coverage as we continue to watch the economic and political fallout to Donald Trump’s widespread tariffs.
Yesterday, US markets continued to plummet in the wake of the announcement, with all three major indices posting losses of more than 5% to confirm the worst week of US trading in five years.
Despite that, Trump himself has remained upbeat. After telling reporters on Thursday he believed the markets would soon “boom”, he told his Truth Social followers yesterday that his “POLICIES WILL NEVER CHANGE”.
Scroll back in the blog to catch up with all of yesterday’s headlines, and stay here with us as we keep track of all the latest developments this morning.
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