This news article from LBC reports on US President Donald Trump's announcement of new global tariffs, labeled "Liberation Day," including a 10% tariff on all imports from the UK. The piece explains what tariffs are, noting they are taxes on imported goods paid by the importer but often passed to consumers through higher prices, with the aim of protecting domestic industries. It details that these tariffs are reciprocal, responding to existing tariffs on the US, and outlines the potential negative impacts on the UK economy, including possible job losses and increased costs. Finally, it mentions the UK's response, including the possibility of reciprocal tariffs and attempts to secure an economic deal with the US to mitigate these effects.

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