Tariffs latest: Trump’s 10% worldwide tariff kicks in as world leaders hold talks over response

If you’re just catching up – here’s the story in 250 words For the second day running, US markets have plummeted in response to the widespread global tariffs Donald Trump announced on Wednesday. A tariff is effectively a tax on imported goods – the White House believes the US has been on the wrong end of these for decades and Trump claims his hope is that his policy will encourage companies to manufacture inside the US and thus “make America wealthy again”. But the scale of the US president’s actions has caused chaos in the global economy. European and Asian…