The pound euro (GBP/EUR) exchange rate is rising after Trump’s tariff announcement.
The EUR is falling against the pound and the USD after Trump announced tariffs of 20% on imports from the European Union. This was at the upper end of what was expected.
The German DAX futures are falling over 2% while the EUR tumbles amid concerns over the impact to growth.
The UK will be hit with trade tariffs of 10%. UK ministers have ruled out retaliatory measures while talks on an economic deal take place.
The pound is rising against the euro but falling against the USD.