Business News: UK car industry threatened by US tariffs as Jaguar Land Rover pauses exports and markets tumble

Hello and welcome to the latest business bulletin on Monday, April 7.

Globalisation has come to an end. That's according Chief Secretary to the Treasury Darren Jones. In the wake of Donald Trump's tariffs, he emphasised the importance of investing in the domestic economy.

Jaguar Land Rover pauses US shipments

Sir Keir Starmer, meanwhile, has pledged to help “ensure home-grown firms can export British cars”. Jaguar Land Rover said over the weekend they're pausing shipments to the US, as they look to “address the new trading terms”.

Auto businesses are grappling with Trump's new 25 per cent tariff on foreign cars imported into the US. Other sectors are facing a blanket 10 per cent tariff, with Britain's economy reportedly set to take a £22 billion hit.

Global markets have continued to tumble in response to Trump's new economic policy. Investors had thought the loss of trillions of dollars would make the president reconsider his plans. But he's doubled down, and said investors will have to take their medicine. Goldman Sachs has raised the odds of an American recession to 45 per cent.

House prices fall by £1,575

Back on the domestic front, the average UK house price fell by 0.5 per cent in March. In cash terms, that's £1,575, according to Halifax. The annual rate of growth remained at 2.8 per cent, which was unchanged from February. Across the UK, the average property price in March was £296,699.

In M&A news, Banknote printer De La Rue has announced the completion of conditions for the sale of its Authentication division to a subsidiary of Crane NXT for the £300 million. Completion is expected on May 1. Discussions continue over a potential sale of De La Rue’s Currency division.

EV charging points drive with £130m Brighton deal

A project claiming to be the UK’s largest installation of on-street electric vehicle (EV) chargers has been announced today. Chargepoint operator char.gy said it will fit more than 6,000 kerbside chargers for Brighton and Hove City Council (BHCC) after securing a £130 million contract.

More tomorrow.