Stock markets are plummeting as major US tariffs loom. Meanwhile, Donald Trump has been accused of “open authoritarianism” after he indicated he was seeking a third term in office – something that would go against the United States’ constitution.
Monday 31 March 2025 11:30, UK
By Adam Boulton, political commentator
Donald Trump wants to redraw the political map of the world. His vision seems to be that smaller countries – such as perhaps Greenland, Ukraine and Taiwan – should fall under the sway of their local big power as the US, Russia and China expand their regional zones of influence.
This is a grim prospect for a middle-sized post-imperial power like the United Kingdom.
This explains the astonishing reports that the King might invite the US to become an “associate member” of the Commonwealth when Mr Trump visits him in Scotland later this year to plan his second state visit to this country.
Trump has already welcomed the news about joining up with the Commonwealth. “I love King Charles. Sounds good to me!” he posted on his Truth Social platform.
But could it really happen? Find out here.
Donald Trump has said he was “very angry” and “pissed off” after Vladimir Putin criticised the credibility of Ukraine’s President Volodymyr Zelenskyy, in a phone call with Sky News’ US partner network, NBC News.
Trump said the Russian president’s recent comments, calling for a transitional government to be put in place in Ukraine in a move that could effectively push out Mr Zelenskyy, were “not going in the right direction”.
He told NBC’s Kirsten Welker: “If I feel we’re in the midst of a negotiation, you could say that I was very angry, pissed off, when Putin said yesterday that – you know, when Putin started getting into Zelenskyy’s credibility, because that’s not going in the right direction.”
You can follow all the latest developments on Trump’s quest to end the war in Ukraine in our dedicated live page.
By Sarah Taaffe-Maguire, business and economics reporter
Stock markets have plummeted as the 2 April implementation day of US tariffs ticks closer.
Benchmark stocks in Asia were rattled at the lack of progress in halting US President Donald Trump’s taxes which are due to come into force on US imports from Wednesday.
After delays, 25% tariffs are to be levied on all cars entering the US on what Mr Trump has called “liberation day”.
Trade barriers are also expected to be announced on countries deemed to be giving the US a bad deal on trade.
In Japan, the Nikkei stock index lost nearly 4% at points before closing 3.86% down, while Korea’s Kospi index dropped 2.83%.
European markets followed suit with the UK’s FTSE 100 list of most valuable London Stock Exchange companies down 0.8%, falling to a more than two-week low.
The larger FTSE 250, which contains more companies based in the UK, lost a large 1.3%, dipping to a near year long low.
Germany’s Dax, France’s CAC 40 and the European-wide Stoxx all opened lower.
Gold has reached another record high price as investors put money into investments perceived as safer than some stock investments.
There’s been little change in the pound as it has remained around the $1.29 mark, seen over the last 10 days.
As we reported in our 8.47 post, Donald Trump has said he is “not joking” about seeking an unconstitutional third term as president.
In this post, we’ll share the full transcript from his call with NBC’s Kristen Welker…
Welker: I know you’re joking about this, but I’ve been talking to a lot of your allies. They say they’re very serious. You know, I talked to Steve Bannon on the record, quite frankly. So, I can just tell you. I mean, he says he’s, you know, really seriously looking at potential plans that would allow you to serve a third term.
Trump: Well, let me put it this way. You have to start by saying I have the highest poll numbers of any Republican for the last 100 years.
We’re in the high 70s in many polls, in the real polls, and you see that. We’re very popular. And you know, a lot of people would like me to do that.
But, I mean, I basically tell them, we have a long way to go, you know, it’s very early in the administration.
Welker: So, but I don’t hear you ruling – like, in a very serious way, do you rule that out? Are you like, ‘I can’t serve a third term, it’s unconstitutional’? What’s your thinking around it?
Trump: A lot of people want me to do it. But we have – my thinking is, we have a long way to go. I’m focused on the current [term].
Welker: Have you been presented with any potential plans that would allow you to serve a third term?
Trump: Well, there are plans. There are – not plans. There are, there are methods which you could do it, as you know.
Welker: Well, let me throw out one where [vice] president Vance would run for office and then would, basically, if he won at the top of the ticket, would then pass the baton to you.
Trump: Well, that’s one. But there are others too. There are others.
Welker: There are others? Can you tell me another?
Trump: No.
Welker: Okay. So, but, but, sir, I’m hearing – you don’t sound like you’re joking. I’ve heard you joke about this a number of times.
Trump: No, no I’m not joking. I’m not joking. But, I’m not – it is far too early to think about it.
Okay. Okay. It’s too early to think about it, but you’re not…
If people would like, and I hope you’re going to mention, I have the highest ratings of any Republican in 100 years.
Nobody’s had ratings like this.
Welker: Do you – would you want to serve a third term, sir? That’s – it’s a lot of work – president is the toughest job there is. It’s the toughest job in the country. You think you have…
Trump: Well, I like working. I like working, so, you know. Unlike sleepy Joe, unlike sleepy Joe.
Welker: Would you, would you – you wouldn’t want to pass the baton to vice president Vance?
Trump: Oh I may – it’s too early to even think about it.
On Day 71 of Donald Trump’s presidency, US correspondent James Matthews is joined by Ronna McDaniel, former chair of the Republican National Committee, only the second woman to occupy that position, and for seven years.
She is also the niece of former senator and one-time Republican presidential nominee Mitt Romney.
James and Ronna discuss Trump’s moulding of the Republican party, if Elon Musk has too much power, and whether JD Vance could make a future US president.
If you’ve got a question you’d like James, Martha, and Mark to answer, you can email it to trump100@sky.uk.
On the banks of the Ohio River in a rural corner of one of America’s poorest states sit two factories, one next to the other.
One is open. The other is shuttered. Both cut to the heart of what Donald Trump hopes he can do to transform America’s industrial base.
Ravenswood, West Virginia, is a town built on aluminium. Since the 1950s, the wonder-metal has kept this place on the map.
Kaiser Aluminium closed its smelters in 2009. The plant now sits idle. Fencing surrounds it; grass partially obscures the entrance, where hundreds of workers would once have passed.
Two hundred metres down the road, there is a different story.
Read Mark’s full report here.
“All countries” can expect to be hit by tariffs, Donald Trump has said.
Speaking from Air Force One last night, the US president rubbished a question from a reporter who asked whether it was true he was planning on targeting 10-15 countries.
“Who told you 10-15 countries? You didn’t hear it from me,” he said.
When pressed on how many he was planning to hit, he said: “You’d start with all countries, let’s see what happens.”
Read more about tariffs and how they’ll affect the world economy here.
We start today with some comments from Donald Trump – made as part of a wide-ranging interview with our partner network NBC – which have prompted significant alarm in the US overnight.
Asked about remarks from some of his allies promoting the prospect of him serving a third term – something that is barred nation’s constitution, the Republican indicated he was also keen on doing so.
“Well, there are plans,” Trump told our partner network NBC.
“There are – not plans. There are methods – there are methods which you could do it, as you know.”
“I’m not joking,” Trump said when asked to clarify.
The president then said it was “far too early” to think about trying to defy the two-term limit and that he was “focused on the current” [term].
However, he said of the prospect of a third time: “I like working.”
‘Open authoritarianism’
The comments have been met with enthusiasm from Trump’s MAGA base but significant concern among others.
Political scientist at the prestigious Dartmouth College in New Hampshire, Brendan Nyhan, said the president’s words equalled “open authoritarianism”.
“Right out of the textbooks,” he added.
We’ll bring you more reaction and analysis to this story throughout the day.
Good morning and welcome back to our live coverage of events in the US.
While we wait for those stateside to wake up, we’ll be taking in all the latest reaction to Donald Trump’s latest claims on tariffs, as well as the prospect of the Republican serving an unprecedented – and unconstitutional – third term in office.
We’ll also be across the continuing fallout from Signalgate.
A bit later on, the president will add to his more than 100 executive orders since returning to the White House.
As we’ve been reporting tonight, JD Vance criticised Denmark during a visit to Greenland today, saying it has not done a good job in keeping the semi-autonomous Danish territory and its people safe from incursions by China and Russia.
While he said the US does not have immediate plans to expand US military presence on the ground in Greenland, it will invest in resources including additional naval ships.
Here are the key lines from today:
Vance thinks Greenland will become independent of Denmark – and then US will take action
On taking any action in Greenland, Vance said the US will wait for Greenlanders to become independent of Denmark.
“What we think is going to happen is that the Greenlanders are going to choose through self-determination to become independent of Denmark, and then we’re going to have conversations with the people of Greenland from there,” he said.
“So, I think that talking about anything too far in the future is way too premature. We do not think that military force is ever going to be necessary.”
US wants to lead in the Arctic – and says it’s about security
The vice president said Russia and China were taking an interest in Arctic passages and he had to ensure that “America is leading in the Arctic”.
US criticism of Denmark
Vance indicated the White House believes the Scandinavian country has “underinvested” in the region.
“Our message to Denmark is very simple. You have not done a good job by the people of Greenland,” he said.
Vance said the region was less secure now and that US policy would change this.
Trump repeats bid to control Greenland in social media video
Donald Trump shared a video on his social media channels reiterating his bid to take over Greenland.
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