EY Item Club predicts GDP of only 0.8% this year as Ipsos Mori poll shows three-quarters of Britons expect economy to get worse

The UK economy is set to slow sharply for the next two years as Donald Trump’s global tariff war weighs on consumer spending and business investment, a study by a leading forecaster has predicted.

The findings by EY Item Club, which is sponsored by the big four accountancy firm EY, come as a separate survey reported that confidence in Britain’s economy has fallen to the lowest level on record.

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The World Trade Organization has warned that the outlook for global trade has “deteriorated sharply” in the wake of President Donald Trump’s tariffs regime.

Recent turmoil across capital markets should be seized on to shift the balance of power on debt covenants

The US commerce secretary says a 10% “baseline” tariff on imports will definitely stay in place for weeks.

Growth forecasts for most advanced countries have been cut, as IMF warns that trade tensions will hurt economic activity

• IMF warns of ‘major negative shock’ from Trump’s tariffs
• Reeves to make case for free global trade at Washington IMF talks

With a week to go, April is turning into the worst month for the US stock market since the Great Depression.

The Wall Street Journal is reporting that the Dow Jones Industrial Average is headed for its worst April performance since 1932, according to Dow Jones Market Data.

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Several Chinese solar companies with factories across the region could face steep new tariffs.