Trump tariffs cause fastest slump in British factory export orders in five years

News Snapshot:

Britain’s factories suffered a slump in export orders last month as Donald Trump’s globally unsettling tariff regime sent overseas demand for UK goods tumbling at the fastest pace in five years. Manufacturers reported rising economic and trade uncertainties in April as some tariffs took effect and other threatened border taxes loomed, forcing them to lay off workers for a sixth consecutive month. There were also further contractions in output and new orders, dragging business confidence to its lowest ebb since November 2022. Describing the global backdrop as “tough”, S&P Global said its survey of manufacturers gathered anecdotal evidence that indicated...