
Richard Spurr 1am - 4am
3 April 2025, 17:21 | Updated: 3 April 2025, 22:07
The government is compiling a list of US products which could be hit with retaliatory tariffs, hours after Donald Trump announced levies targeting international trading partners.
Britain will now face 10% tariffs imposed on its exports to America - but those figures pale in comparison to countries like China, who now face paying a 54% tax.
As a result, Starmer's government has now opened a four-week consultation with businesses on the possible implications of retaliatory tariffs.
It comes as the PM confirmed that any retaliatory tariffs would be a "last resort".
But as the world digests news of the newly imposed levy's, the government's 400 page list of US products facing tariffs was released, containing more than 8,000 potential categories of goods.
Topping the list of commonly purchased US goods facing potential retaliatory tariffs were whisky - including the US's world famous Tennessee varieties - jeans, human hair, jet fuel and firearms.
Other items set to be impacted by any potential retaliatory tariffs include mushroom spawn, fish waste and rollercoasters.
The full list of items, summarised below, include a variety of everyday cupboard staples - with prices set to skyrocket for UK consumers if such levies are implemented.
Trump's announcement sent shockwaves around the world on Wednesday evening, with markets sent into turmoil upon opening on Thursday.
Domestically, stock markets tumbled, with the dollar hitting a six month low against the pound on Thursday after markets opened.
The bell sounded on Wall Street to reveal the Dow Jones had fallen 2.8%, the S&P 500 3.3% and the Nasdaq a whopping 4.4%.
A summarised list of items tabled to be taxed can be found below.
It comes as Canada's newly appointment Prime Minister Mark Carney said the tariffs would create a "rupture" in the global economy.
The tariffs are also expected to impact energy markets worldwide, with the US being a major producer of crude oil.
The FTSE 100 stock dropped more than 1.4% at the open this morning after Trump's tariff announcement. Asian and European markets also fell sharply on the back of the announcement.
This morning, Sir Keir Starmer warned against "jumping straight into a trade war" in response to Donald Trump's trade tariffs but insisted "nothing is off the table" to protect Britain's national interest.
Putting the White House on notice, Downing Street launched a four-week “request for input” from businesses on hitting the US with retaliatory tariffs.
Business Secretary Jonathan Reynolds told MPs: "To enable the UK to have every option open to us in future, I am today launching a request for input on the implications for British businesses of possible retaliatory action.
This is a formal step necessary for us to keep all options on the table.