Wednesday briefing: What the latest wave of tariffs mean for the US, UK, Europe and you

Good morning. According to Donald Trump, it’s “liberation day”: the advent of a new trade order in which Americans reap the benefit of massive tariffs on imports, and the rest of the world picks up the tab. Unsurprisingly, the United States’ trading partners tend to take a very different view. And they are doing everything they can to avoid being passive targets for the White House’s carnivorous vision of American exceptionalism. Trump will announce his plans at 4pm Eastern Time (9pm UK) in the White House’s Rose Garden – but it is still not clear whether a flat rate will

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