6:41 am, April 4, 2025
UK government mulls response to Trump’s tariffs as global markets slide
The UK is braced for more market chaos on Friday as the government considers its response to Donald Trump’s tariffs.
Ministers have insisted they will respond with ‘cool and calm heads’, but are keeping all options open, including the possibility of retaliatory tariffs on a range of American goods.
An ‘indicative list’ published by the government showed products that could be targeted, including bourbon whiskey, motorcycles, guitars and jeans.
UK economic growth to be slower than forecast due to tariffs, say economists
UK economic growth could be up to 0.5 percentage points lower than expected in the coming years due to US president Donald Trump’s tariff plan, economists have warned.
Experts stressed that the UK has avoided a ‘direct blow’ but will still face a ‘significant’ impact.
Thomas Pugh, economist at RSM UK, said: ‘The direct impact on the UK is likely to be in the 0.2% to 0.5% of GDP range over the next few years combining both the impact of the 10% flat tariff and the 25% tariff on automotives.’ He added: ‘Given we expect growth of 1% this year and 1.5% next year, it implies another year of stagnation at best.’
Hyundai’s Ioniq 6 gains new look and sporty N Line version
Hyundai has given its 6 electric saloon a radical new look along with a more dynamic N Line specification.
Revealed at the Seoul Mobility Show in Korea, the Ioniq 6 has lost the large spoiler of its predecessor and instead takes on an overall sleeker and even more aerodynamic appearance. There’s also a new sporty N Line model.
Inside, the new 6 aims to put a greater focus on comfort and an ‘intuitive user experience’, which is why a redesigned steering wheel has been included alongside upgraded cabin materials. Hyundai has also reworked the center console to make it easier to access while the climate control display has been made larger.
The markets
US stocks have suffered steep falls with the top index tanking to a six-month low shortly after opening, as Donald Trump’s tariffs reverberated through the world’s financial markets.
The S&P 500 plummeted about 4% to 5,440 shortly after markets opened in Wall Street – hitting the lowest level since September. The Dow Jones tumbled around 3.6%, while the technology-focused Nasdaq index plunged nearly 5%.
In the UK, the FTSE 100 was falling around 1.5% to a three-month low of 8,476. The Dax in Germany was down by about 2.8%, and the Cac 40 had plunged 3.3% by late afternoon.
Prime minister Mark Carney says Canada will match US car tariffs
Prime minister Mark Carney said that Canada will match US President Donald Trump’s 25% car tariffs with a tariff on vehicles imported from the United States.
The prime minister said he told Trump last week in a phone call that he would be retaliating for those tariffs.
Carney said Canada would not put tariffs on car parts as Trump has done, because he said Canadians know the benefits of the integrated auto sector.
South Korean court removes impeached president from office
South Korea’s Constitutional Court has removed impeached president Yoon Suk Yeol from office.
Friday’s decision came four months after he threw South Korean politics into turmoil by declaring martial law and sending troops to parliament in an ill-fated effort to break through legislative gridlock.
South Korea must now hold a national election within two months to find a new president.
Thursday on Car Dealer
Motorpoint expecting to turn major profit in 2025 after ‘most difficult year ever’ last time out
Motorpoint returned to profitability in 2025 with a forecasted £4m–£4.3m pre-tax profit, after an £8.2m loss in 2024. Retail volumes rose 14%, aided by a new Norwich store. The firm remains debt-free, optimistic for 2026, and announced a share buyback.
SMMT hits out at ‘deeply disappointing’ US tariffs which could cost UK jobs
The SMMT warns UK carmakers may cut output due to Trump’s 25% US import tariffs. The US, a key export market, now imposes major costs, risking 25,000 jobs. Manufacturers may shift production or pass costs to consumers.
Tesla sales tumble as electric car manufacturer feels impact of Elon Musk backlash
Tesla’s Q1 2025 sales fell 13% to 336,681 vehicles—its weakest performance since mid-2022—amid backlash over Elon Musk’s political views, declining Chinese demand, and an aging lineup. Production disruptions from Model Y upgrades and unmet analyst expectations worsened the decline.
How an AI chatbot saved sales that humans would have given up on
Available Car’s CEO told Car Dealer Live that using an AI sales assistant helped return the business to profitability by converting leads others gave up on. It handled 60,000 leads and sent 400,000 messages, but most dealers still don’t know where to start with AI.
Weather
This morning, rain in western UK will ease, and northern mist will lift. The day will be sunny, dry, and breezy across the country. Tonight will remain mostly clear and dry, with patchy cloud, mist, and fog developing in eastern areas after midnight.
