Bank of England likely to cut interest rates today as new Trump tariffs kick in – business live - short news
Rolling coverage of the latest economic and financial news
Donald Trump hailed the new tariffs which kicked in at 5am UK time, or just after midnight on the US east coast.
The US president repeated his claim that money was now “flowing” into the US, even though it is US importers who will stump up these new levies on goods from overseas.
IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!
RECIPROCAL TARIFFS TAKE..
source: The Guardian - 07.08.2025