FX.co ★ UK Futures Slide as Trump Tariffs Shake Markets

Futures for the FTSE 100 Index slid by 1.7% on Thursday, dropping below the 8,500 mark to reach a two-month low. This decline followed the announcement by US President Donald Trump regarding stringent tariff measures. Trump has declared reciprocal tariffs affecting more than 180 countries and territories, which include a 10% duty on imports from the United Kingdom, applicable as a baseline for all countries. The European Union will face even steeper tariffs, with a 20% levy and an immediate 25% tariff on imported automobiles. In light of these developments, UK Business Secretary Jonathan Reynolds emphasized the government's commitment to pursuing a negotiated resolution to circumvent a potential trade war but cautioned that Britain stands ready to implement retaliatory measures if deemed necessary.