UK - UK shares joined a global plunge today amid mounting panic over Donald Trump's trade war - as Keir Starmer's hopes of avoiding tariffs dwindle. Fears are growing that Mr Trump will hit foes and allies alike with a 20 per cent levy on so-called 'Liberation Day', April 2. The President has been complaining that America is being exploited by other countries, listing VAT among the unfair foreign taxes - even though it is charged on all sales, not just imports. The prospect of a trade war triggering a recession has been causing near-panic on global stock markets, with Asia down sharply overnight - and the FTSE 100 dropping 0.75 per cent on opening this morning. Mr Trump has suggested the EU is his main target, raging that the bloc was created to 'screw' America. Brussels has been pledging to strike back.