Share prices tumbled around the world on Friday – with Britain’s FTSE 100 suffering its worst drop since the start of the Covid-19 pandemic – as the global trade war intensified with China’s retaliatory imposition of a 34 per cent tariff on imports of all US products.
Trillions of dollars have been wiped from the markets since Donald Trump announced a range of import taxes on goods from other countries. British exports to the US face a blanket 10 per cent levy.
