UK markets surged following Donald Trump's announcement of a 90-day pause on his broad tariff measures, with the FTSE 100 climbing more than 6 per cent.
However, Home Secretary Yvette Cooper urged caution, warning that global instability remains a concern despite the market rally.
Trump’s move includes a 90-day delay in implementing tariffs for most countries, while sharply raising the tariff on Chinese imports to 125 per cent. A 10 per cent duty will still apply to goods entering the US in general.
Imports of cars, steel, and aluminum into the US will continue to face a 25 per cent tariff.
Chancellor Rachel Reeves has indicated plans to hold talks with the US during the IMF’s spring meeting, while Conservative leader Kemi Badenoch has called for strengthened cooperation with trans-Pacific trade partners to help offset the effects of US trade policies.
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