Business
7 other ways for Trump and Musk to partner up
July 17, 2024
January 21, 2025
By Evans Momodu
1 minute read
The FTSE 100, the UK’s leading stock index, achieved a new all-time high today, just one trading day after breaking its previous record. The index closed 0.18% higher, reflecting optimism among investors.
Market sentiment improved as concerns over US President Donald Trump’s potential trade tariffs appeared to ease. While Trump’s inaugural address reiterated his plan to impose tariffs on imports, it stopped short of providing detailed policy outlines.
Trump also announced plans to create an external revenue service but offered no specifics about its structure or operation, leaving uncertainty over the immediate impact on global trade.
Economists warn that tariffs imposed by the world’s largest economy could slow US economic growth and drive inflation, potentially causing ripple effects worldwide. For now, the lack of immediate action on tariffs has provided relief to markets, contributing to the FTSE 100’s rally.
Investors remain cautious as they await further details on Trump’s economic policies, but for now, the UK’s benchmark index continues its upward trajectory.
Source: Sky news
