Donald Trump to unveil sweeping new tariffs on Wednesday

US stock markets have fallen again as President Donald Trump prepares to unveil a massive slate of import taxes on Wednesday 2nd April, which he has called America's "Liberation Day”.

It comes after the US president suggested that new tariffs he is set to announce this week will hit all countries, not just those that have the biggest trade imbalances with the US.

London’s Downing Street says the UK "expects" to be affected by US tariffs and is not ruling out retaliatory tariffs in response.