Donald Trump’s sweeping tariffs trigger biggest one-day Wall Street fall since 2020 – as it happened

Worst day on New York stock market since Covid-19 crisis as US dollar falls to six month low after US President Trump's liberation day' tariffs fuel recession fears

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The new US tariffs will only create losers" with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU to act together and with the necessary force, while continuing to signal its willingness to negotiate."

The body, which represents the powerful German auto industry, said the tariffs marked

the United States' departure from the rules-based global trade order - and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.

This is not America first; this is America alone.