Trump Rates live updates: FTSE suffers a larger daily fall from Covid after China hits us with a large 34% rate

Sir Keir Starmer, Anthony Albanese of Australia and Giorgia Meloni of Italy agreed that a “total commercial war would be extremely harmful” during telephone calls, Downing Street said.

The prime minister said it had been “clear for a long time that related countries must maintain solid relationships and dialogue to guarantee our mutual security and maintain economic stability,” said a spokesman for his office.

Prime Minister Sir Keir Starmer has held conversations with his Australian and Italian counterparts, Anthony Albanese and Giorga Meloni, in his approach to Donald Trump's tariffs, said a Downing Street spokesman.

No 10 has already said that Sir Keir will hold a series of conversations with global leaders this weekend:

The FTSE-100 has lost all the profits it has achieved so far this year, and more.

Analysts estimate that around $ 4.9 billion (£ 3.8 billion) have been eliminated from the value of the global stock market since the president of the United States announced its tariffs on Wednesday night.

AJ Bell's investment analyst Dan Coatsworth, said: “China's retaliation to the last round of Trump tariffs means that both parties are not going back.

“It has been a horrible week for financial markets and dragged the prices of even lower shares.

“The climbing in tariffs is bad for American companies that buy goods from China, and vice versa, because their costs will increase.

“It is also bad for the world in general, since we now have a repetition of high geopolitical tensions between the United States and China that dominated Trump's first mandate in office.

“The rapid setback in actions and actions in recent days has made a dent in people's investments, including those of the United States that were destined to have benefited from Trump's actions.

“Instead, their tactics have caused shock waves in every corner of the world.”

Both S&P 500 indices and Dow Jones also suffered their worst days since 2020, since US actions fell again.

The S&P 500, which tracks the main companies that quote on the country list, slid up to 3.6% to approximately 5,200, shortly after the stock markets were opened in New York.

This led the index to its lowest level since August.

The Dow Jones, which tracks 30 large US companies, and the Nasdaq index centered on technology also decreased around 3%.

The FTSE-100 fell 3.8 percent, its worst day since March 27, 2020, when the Covid pandemic reached the United Kingdom.

After China announced that it is a 34% reciprocal rate on imports of all American products, the index fell by approximately 4%, then recovered a little before immersing itself again.

The Nasdaq seems to confirm a bearish market, since it has dropped more than 20 percent from its record.

The heavy technology index reached a record of 20,173.89 on December 16, but has had problems since the beginning of the year. The fears of a possible slowdown in the expenditure of AI had pushed him to the territory of correction at the beginning of last month.

The index was the last 3.6 percent on Friday.

Unless it is an investor or merchant who has shortened many actions before yesterday, it was probably not a pleasant experience to see some of the largest and most known companies on the increasingly deep planet in red.

At the end of the game in the United States on Thursday, the previous announcement of the president of Donald Trump of the global rates had been cleaned only of approximately $ 2.5 billion, or £ 1.9TN, of the total value of the markets of US values ​​in the space of a few hours.

Therefore, it is essentially a work to make your nation richer in the long term, it was a great impact on the opposite direction, but Trump remains firm in her beliefs that a long -term gain will be obtained from her ploy of alienating most of the rest of the planet in commercial terms.

Our business and money editor Karl Matchett informs: