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FTSE 100 Live: Stocks jittery after Trump tariffs; Job vacancies fall

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Trump’s move is likely to touch off an extensive legal battle that will probably go to the Supreme Court and could disrupt financial markets. (Photo by Chip Somodevilla/Getty Images)
Trump's new tariff offensive is set to hit the FTSE 100. (Image: Getty)

Good morning and welcome back to the City PM liveblog.

Tariffs are once more redefining market sentiment.

Last Friday, a number of FTSE 100 stocks popped on the news President Donald Trump’s ‘Liberation Day’ levies had been struck down by the US Supreme Court.

It marked a major boost to global markets after the top Court found the authority Trump used to inflict the tariffs was invalid.

But 24 hours later, Trump stuck back harder using emergency legislation to raise the 10 per cent base tariff on global trading partners to 15 per cent.

For the UK, this meant bad news after it had secured “preferential” treatment to other nations at the 10 per cent tariff. The new hike to 15 meant all nations would be caught in the new rate with a requirement of the legislation to be non-discriminatory.

Businesses quickly slammed the alarm with the British Chambers of Commerce warning the new tariffs would be “bad for trade, bad for US consumers and businesses and weaken global economic growth”.

High level discussions are said to be ongoing between both the UK and US government, but the latest twist in the Trump tale may be set to rattle markets once more – that is unless another heap of TACOs are on the menu.

Investors have coined the term ‘Trump Always Chickens Out’ (TACO) to describe his erratic trade policy, which is consistently rowed back on.

Is Trump about to cook up another TACO feast?

We’ll be bringing you the latest market updates and analysis.

Here’s a few of our top stories from yesterday: