The German Finance Minister, Joerg Kukies, expressed concerns about the impact of higher tariffs on German car manufacturers and both the German and American economies. He emphasized that the tariffs could lead to negative consequences for both countries, leading to an escalating trade war. The latest data revealed an increase in core inflation in the US, sparking fears among consumers. US Federal Reserve Chairman, Jerome Powell, acknowledged the rise in inflation partly due to tariffs. Consumer sentiment was affected, with expectations of rising inflation and unemployment. Stock markets in the US witnessed a significant drop following the inflation data release. The tariff uncertainty created by Trump's policies could potentially harm the global economy. Economists warned about potential job losses and store closures as a result of increased costs due to tariffs. Trump's car tariffs announcement provoked concerns and market reactions, affecting various industries. Pressure mounted on UK businesses as they braced for looming tax increases from Chancellor Rachel Reeves. Despite positive retail sales data in the UK, there are concerns over the impact of upcoming tax rises on the sector. Asian stocks experienced a downturn as investors processed the uncertainties stemming from Trump's tariffs.