Trump’s tariffs may be reduced but their impact will be felt in the UK and beyond

We examine potential consequences of US president's market chaos, which could reach every corner of global finance and economy

Donald Trump may have stepped back from his huge tariff rises on every country, except China, which now faces 125%, but the impact of the market chaos is likely to continue in the UK and beyond. The rest of the world still faces a blanket 10% tariff on all US exports.

While much of the focus has been the direct impact of the tariffs on physical goods, Trump's actions threaten to reach every corner of global finance and the economy.