Trump admits ‘transition cost’ of tariffs as global markets sink again – business live

US stocks tumbled once more after a historic rally following President Trump’s surprise retreat on ‘reciprocal’ tariffs, as global uncertainties surrounding tariffs and economic slowdown weighed on investor sentiment. In the UK, shoppers avoided the high street in March, with footfall dropping by 5% due to economic gloom exacerbated by Trump’s tariff war, inflation, and stagnant wages, leading retailers to fear a further decline in consumer confidence and spending in the near future. The potential impact of tariffs and economic uncertainties on shopping behavior highlights the ongoing challenges faced by businesses and consumers in navigating a volatile global market.

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