Downing Street has admitted the UK is now likely to face Donald Trump’s tariffs this week as the US president’s threats of a global trade war sparked fears of a global recession.Markets tumbled across the UK,

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Donald Trump's "Liberation Day" tariffs will hit Britain, Downing Street has admitted - just as fears of a recession soared to a two-year high. The Prime Minister's official spokesman confirmed this afternoon that No10 "expects the UK to be impacted" by the levies,