President Donald Trump's stance on tariffs has raised concerns about a potential global trade war, leading to anticipated declines in European stock markets. Following Trump’s imposition of tariffs on Mexico, China, and Canada, these nations have threatened retaliation. The UK's FTSE 100 is expected to open lower but may prove more resilient against these changes. Analysts suggest that while immediate impacts might be limited, the long-term implications could lead to inflation and affect global economic growth significantly.
The US President has not ruled out imposing tariffs on UK goods, but offered an olive branch saying things can be worked out.
It's too early to know exactly what impact tariffs will have on the global economy, but it is fair to say that they have a high potential of triggering inflation.
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