Will ‘Liberation day’ transform the world? Donald Trump has fired the starting gun on what he says will be a new economic age. Some think he is just shooting himself in the foot.
Trump slaps new taxes on global trade
Score settling: Speaking from the White House Rose Garden yesterday, President Trump unveiled a 10% tariff on UK goods and 20% on EU goods in what the BBC called "a watershed moment for global trade". Britain's tariff rate appears to be the lowest of those imposed by the US. Glossary
Reciprocal - Mutual; from both sides.
Tariffs - A form of tax on imports.
Wall Street - A street in New York City's financial district. The term "Wall Street" is now used to discuss US financial markets as a whole.