Trump tariffs latest: World reacts to Trump 'madness' - as island home only to seals and penguins targeted

If you're just catching up - here's the story in 200 words Donald Trump has announced sweeping global tariffs that threaten to ignite an unprecedented trade war. The US president held up a chart in the White House Rose Garden outlining what he said were the "reciprocal" tariffs each country would face. A tariff is effectively a tax on imported goods - the US has been on the wrong end of these for decades and Trump's hope is that his policy will encourage companies to manufacture inside the US and will "make America wealthy again". But the scale of Trump's actions threatens to drive up prices in the US and cause chaos in the global economy. His list included 10% tariffs on goods entering the US from the UK in response to the UK's 20% VAT. As 10% is Trump's baseline tariffs rate, the UK is seen to have come out of this better than most. Trump confirmed the European Union will face a 20% reciprocal tariff on all other imports. China's rate is set at 34%. His first tariff announcement was a 25% duty on all car imports from midnight - 5am today. "This is Liberation Day," he told a cheering audience of supporters. Here's data and economics editor Ed Conway explaining the story in a minute...