{"id":132317,"date":"2025-04-03T13:08:11","date_gmt":"2025-04-03T13:08:11","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-tariffs-latest-us-president-claims-operation-over-and-patient-healing-after-unleashing-trade-war-uncertainty-sky-news\/"},"modified":"2025-04-03T13:08:11","modified_gmt":"2025-04-03T13:08:11","slug":"trump-tariffs-latest-us-president-claims-operation-over-and-patient-healing-after-unleashing-trade-war-uncertainty-sky-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-tariffs-latest-us-president-claims-operation-over-and-patient-healing-after-unleashing-trade-war-uncertainty-sky-news\/","title":{"rendered":"Trump tariffs latest: US president claims 'operation over' and 'patient healing' after unleashing trade war uncertainty – Sky News"},"content":{"rendered":"

Donald Trump has revealed his package of tariffs – including a 10% levy on the UK. The British government is relieved it’s not worse but the FTSE 100 has dropped on opening. Follow below for the latest, and listen to Trump 100 analysis as you scroll.
Thursday 3 April 2025 14:06, UK
Live reporting by Bhvishya Patel<\/a>andAdam McGroarty<\/a><\/i>
Donald Trump has announced sweeping global tariffs that threaten to ignite an unprecedented trade war.
The US president held up a chart in the White House Rose Garden outlining what he said were the “reciprocal” tariffs each country would face.
A tariff is effectively a tax on imported goods – the US has been on the wrong end of these for decades and Trump’s hope is that his policy will encourage companies to manufacture inside the US and will “make America wealthy again”.
But the scale of Trump’s actions threatens to drive up prices in the US and cause chaos in the global economy.
His list included 10% tariffs on goods entering the US from the UK in response to the UK’s 20% VAT. As 10% is Trump’s baseline tariffs rate, the UK is seen to have come out of this better than most.
Trump confirmed the European Union will face a 20% reciprocal tariff on all other imports. China’s rate is set at 34%.
His first tariff announcement was a 25% duty on all car imports from midnight – 5am today.
“This is Liberation Day,” he told a cheering audience of supporters.
Here’s data and economics editor Ed Conway<\/a> explaining the story in a minute…
By Jenness Mitchell<\/a>, Scotland reporter<\/b>
Scotland’s First Minister John Swinney has said the tariffs imposed on the UK by US President Donald Trump was “not good news”.
Speaking at First Minister’s Questions on Thursday, Swinney said: “It will be damaging for economic activity not just in Scotland, the United Kingdom, but across the world.
“And there will also be negative implications for the population of the United States with what was applied yesterday.”
Swinney said his government would continue to engage with the UK government, which carries the responsibility for international trade.
He added: “We will continue to do so as part of our efforts to promote and to protect Scottish business.”
Scottish Tory leader Russell Findlay noted Scotland exports about \u00a34bn worth of goods to the US each year.
He highlighted the concern around the US market for Scotch whisky, which is said to be worth around \u00a31bn per year.
In response, Swinney said there had been “extensive dialogue” with the Scotch Whisky Association and he would be engaging with the trade body while in the US in the coming days for Tartan Week.
He added: “And I can assure Mr Findlay that this government will leave no stone unturned in ensuring that we take forward the concerns of the industry – working with the United Kingdom government and the industry to protect the prospects [of] an industry that contributes very significantly to the economic wellbeing of Scotland.”
Donald Trump has just shared his first remarks of the day on his social media platform.
In his usual style – block capital letters throughout – he’s compared the US to a patient.
And the patient is “healing”, he says.
“THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE,” he writes.
He signs off with: “MAKE AMERICA GREAT AGAIN!!!”
We’ve just brought you the list published by the UK government showing the goods that could be included in any retaliatory tariff response (see previous post).
There’s now some more detail we can bring you on the list – the government is starting a four-week consultation with businesses on the implications of any retaliatory tariffs, which will end on 1 May.
Based on data from last year, the list includes around 27% of British imports of US-origin goods.
It runs to more than 400 pages, with more than 8,000 potential categories of goods.
The government said the list of goods was developed to identify products which would have a more limited impact on the UK.
It also said due regard had been given to UK supply chain risks and wider public interest issues.
The UK government has published a list of US products that could be targeted in retaliatory tariffs.
The list spans across a total of 417 pages, you can read it here<\/a>.
While speaking in the Commons earlier, Business Secretary Jonathan Reynolds said that the government is considering retaliating against Donald Trump’s tariffs.
He said: “I am today launching a request for input on the implications for British businesses of possible retaliatory action.”
The list includes golf clubs, balls and equipment – something which is close to Trump’s heart…
This is the “beginning of a new era”, Sir Keir Starmer has told our political editor Beth Rigby<\/a><\/b>. 
Asked to explain to working people what Trump’s tariffs mean for them and whether it meant job losses, higher prices, and maybe higher taxes, the prime minister said: “We’re working in your absolute best interests”.
“A trade war is bad for working people and businesses,” he said and insisted some sort of deal with the US was a better outcome.
But he warned “this is not just a short-term tactical exercise” from Trump.
“It’s the beginning of a new era,” he said, and people “have to understand the changing world when it comes to trade and the economy”.
“We have to adapt in ways that go beyond the mere question of tariffs,” Starmer added, to make Britain’s economy more secure.
South Korea’s acting president has said the country plans to announce emergency support measures for the auto industry by next week.
Han Duck-soo is cited in the Yonhap news agency as saying Donald Trump’s 26% tariffs on South Korean exports to the US could be a big burden for the economy.
He also said South Korea’s trade minister will visit the US as soon as possible to take part in negotiations.
It follows the country’s finance minister pledging to deploy all measures to stabilise financial markets if volatility becomes too excessive.
How were the tariffs calculated?<\/b>
Our US correspondent Mark Stone<\/a> used South Korea as an example when explaining how Trump’s team calculated the numbers.
“Take South Korea, with which the US has a trade agreement,” he said. 
“It is not charging a 50% tariff on US exports as Trump’s charts claim.”
Stone said Team Trump’s maths add undisclosed “currency manipulation” calculations and non-tariff barriers to the calculations.
Tap the link below to read more of his analysis.
The European Union has been hit with a 20% tariff by Donald Trump, while the UK got a lower rate of 10% – but why is that?
“It’s because it’s a more powerful, bigger trading bloc, it’s got more leverage and the UK simply doesn’t have that,” our business and economics correspondent Paul Kelso<\/a> said.
He explained that if there is to be a retaliation from other blocs, there’s a concern that the UK could become an attractive place to dump cheap goods that can’t be sold elsewhere.
Some people are casting the decision to leave the EU positively this morning, Kelso added, because of the lower rate of tariffs.
“But we are outside the main action here, which is going to be between the big trading blocs trying to work out how they can do a deal with Donald Trump’s America.”
Donald Trump’s speech announcing the tariffs was delivered in typically idiosyncratic fashion.
As has become common when delivering major addresses, the US president repeatedly deviated from his script.
At one point, he shared his love for the word “groceries” – and even helpfully told viewers what they are.
After Donald Trump announced sweeping global tariffs last night, you may find yourself still trying to get your head around the figures and what they all mean.
Our business and economics correspondent Gurpreet Narwan<\/b><\/a> drills down into the numbers and explains how they were calculated in the video below…
By Sarah Taaffe-Maguire<\/a>, business and economics reporter<\/b>
Amid all the global uncertainty a trade war brings, it looks like borrowing costs will still go down in the UK and US next month.
In fact, the chance of interest rate cuts has risen.
Last night, before we learned the details of President Trump’s taxes on US imports, traders were pricing in a 70% chance of a May interest rate reduction by the Bank of England. That’s now risen to a 75% chance. 
It’s set to be one of two cuts anticipated this year, with the second still expected in September. 
In the US, as well, traders now say there’s a 28% likelihood of the Federal Reserve cutting rates by 0.25 percentage points at their next interest rate setting meeting. 
At 8pm yesterday evening, the chances had been 13.6%, according to data from financial market information company LSEG Data & Analytics.
Be the first to get Breaking News<\/span>
Install the Sky News app for free<\/p>\n

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