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The Independent UK
The Independent UK
National
Kate Devlin

UNCOVERED: Global recession fears as trump doubles down on tariffs | History Defined

Recession Donald Trump
  • Global markets plummeted on Monday as Donald Trump doubled down on trade tariffs, despite warnings of a potential recession in the US and globally.
  • Trump dismissed market concerns, stating the need for "medicine" to fix the situation, and threatened further tariffs against China unless retaliatory measures were dropped.
  • Banking giants Goldman Sachs and JP Morgan warned the escalating trade war could trigger a recession, while billionaire hedge fund manager Bill Ackman urged Trump to reconsider the tariffs.
  • UK Prime Minister Keir Starmer pledged support for British businesses affected by the tariffs, calling for calm and emphasising the need for global cooperation.
  • The UK government announced increased flexibility in the zero-emission vehicle mandate to support the car industry amid the trade tensions.
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