Donald Trump announced his new tariffs in the Rose Garden at the White House.

Donald Trump’s tariffs have been blamed after experts issued a bleak warning about the state of the UK economy.

In a major blow for Rachel Reeves, the International Monetary Fund forecast Britain’s gross domestic product (GDP) will grow by 1.1% in 2025 – well down on their previous prediction of 1.6%.

UK inflation is also set to hit 3.1% later this year, compared to the previous forecast of 2.4%, largely due to prices like water and electricity rising from April.

The IMF said the trade war sparked by Trump’s decision to slap 10% tariffs on imports from most countries to the US, plus 25% taxes on steel and cars, was largely to blame for the worsening global economic outlook.

Pierre-Olivier Gourinchas, the organisation’s top economist, said: “While many of the scheduled tariff increases are on hold for now, the........

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