China has imposed tariffs on certain US trade measures, sparking global market anxiety and sending the FTSE 100 into its sharpest decline since the pandemic, while the PM considers strategies to shield domestic interests.

Global markets have suffered massive losses following sweeping tariffs from the US, prompting calls for caution from business leaders and the PM as they assess the potential long-term impact on economic growth.

Donald Trump has declared new import levies on British goods at a baseline of 10%, extending a 20% rate to the EU and framing the move as a bold step towards economic self-reliance, with the measures set to begin on Saturday.

Businesses are advised to prepare for potential economic fallout from proposed US tariffs, with the PM choosing not to retaliate while pursuing a more favourable trade agreement.