UK economy contracted sharply in April after Trump’s tariffs

The UK economy shrank more than expected in April as the worst of President Trump’s tariffs hit, according to the latest official figures. The standard measure of economic output (GDP) contracted a sharp 0.3% in April, data from the Office for National Statistics (ONS) showed. During the month, Mr Trump’s so-called “Liberation Day” applied steep tariffs to countries around the world and sparked a trade war with China, the world’s second-largest economy. It’s worse than expected by economists. A contraction of just 0.1% had been forecast by economists polled by the Reuters news agency. Be the first to get Breaking…