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It's been 12 months since Donald Trump's 'liberation day' on April 2, 2025, when the US president introduced tariffs on nearly every country the US did business with. The move sent shockwaves through the global economy, causing chaos in Washington and beyond. Experts say that if Trump had spent the last 14 months on the golf course instead of in the White House, the US economy would be in a better place. The wholesale slashing of government jobs and defunding of US aid agencies had already signaled that Trump was in a hurry to upset institutions he considered profligate or useless. Investors quickly understood that chaos was an essential tool in Trump's armoury. Almost as soon as he was inaugurated, there was a steady decline in the value of the dollar against other currencies. Investors sold assets denominated in dollars and bought assets elsewhere: Europe, Asia, South America. Dario Perkins, the head of global research at the consultancy TS Lombard, said: 'If you think that discouraging investors from buying assets in the US is a victory, then you don’t believe in a growing economy.' He added that Trump's policies had led to a decline in US manufacturing jobs and a growing trade deficit. The data supports Perkins' claims. US companies stopped hiring almost as soon as liberation day was announced. Significant revisions in February to data covering 2025 pushed payroll employment down by 403,000 jobs, resulting in the addition of just 181,000 jobs last year. This small boost is set against the 163 million people who are employed in the US. Russ Mould, the investment director of the British stockbroker AJ Bell, said: 'America is still home to the world’s largest economy and its reserve currency, as well as the globe’s largest equity and bond markets, but investors continue to reassess their exposure one year on from liberation day.' The next few months of steadily increasing confidence levels followed probably the calmest period in the second Trump presidency. But sentiment began to fall again in the autumn as the White House battled with Congress over the federal budget deficit and much of the public sector was shut down. A poll by the University of Michigan showed consumer confidence at a near record low at the end of 2025. A six-month moving average produced by the Conference Board showed every generation, from baby boomers to gen Xers, had lost confidence in the economy over the past year. Trump’s liberation day executive order stated: 'The decline of US manufacturing capacity threatens the US economy in other ways, including through the loss of manufacturing jobs.' However, the US manufacturing sector shed 100,000 jobs between January 2025 and March 2026. The ratio of manufacturing workers to total nonfarm employment fell to the lowest point since 1939. Bryan Riley, the director of the National Taxpayers Union Foundation’s free trade initiative, said: 'One year after liberation day, the evidence is in. Tariffs failed even by the Trump administration’s own terms. They did not shrink the trade deficit, did not revitalise manufacturing and did not help farmers. It would be a mistake to replace one set of failed tariffs with another.' Some major US companies have redirected their investments to Europe, but China has proved to be one of the main beneficiaries. In the year to February 2026, China’s industrial profits increased by 15.2%. It's a boom that Beijing will struggle to repeat should Chinese companies face fuel and energy shortages and price hikes. But the decline of two major powers can only be to China’s gain.

President Donald Trump's recent primetime address on the war with Iran has sparked widespread bewilderment and criticism. The speech, which lasted 19 minutes, was marked by slurred words and stumbling syntax. Trump vaguely stated that the US is 'on track to complete all of America's military objectives shortly,' but failed to provide a clear endgame or sense of direction.During the address, Trump vowed to continue bombing Iran to 'bring them back to the stone ages,' where he claimed they belonged. This statement has been widely criticized, with commentators describing it as a threat of war crimes. Chris Hayes of MSNBC called the speech a 'litany of lies he's told before,' while Robert Malley, a former lead negotiator for the nuclear deal, wrote that Trump's threat to send Iranians 'back to the stone ages' was a cavalier threat of war crimes.The speech has been criticized for lacking a clear endgame or sense of direction. Ian Bremmer, the founder and president of the Eurasia Group, called the address '19 minutes of a rambling, unmoored and unserious commander in chief.' Joseph Cirincione, a veteran arms control negotiator, accused Trump of lying about the 2015 nuclear deal, which Trump abandoned in 2018.The war with Iran has now raged for a month, and the absence of defined goals in Trump's speech has been highlighted by critics. Brian Finucane of the Crisis Group and a former state department legal adviser on military operations noted that the speech merely regurgitated prior social media posts, raising questions about Trump's war aims.

Allbirds, the sustainable trainer brand from San Francisco, has been sold to American Exchange Group for $39m (£29.6m). The brand was once valued at over $4bn but struggled to maintain demand for its wool-based footwear.The company's value tumbled by more than 99% since its listing on the US stock market in 2021. Allbirds had enjoyed rapid success in its early years, selling over 1m pairs of its original merino wool trainers in the first two years after its launch in 2016.Celebrities such as Leonardo DiCaprio, Oprah Winfrey, Gwyneth Paltrow, and Barack Obama were early adopters of the brand. However, the company's success was short-lived, and it eventually slipped into losses as competition intensified from eco-focused rivals.Neil Saunders, managing director of GlobalData, described Allbirds' downfall as going from 'a high flyer to a dead parrot.' The company's co-founder, Tim Brown, and engineer Joey Zwillinger had launched Allbirds amid growing interest in sustainable fashion.The takeover follows a sharp fall in sales in the third quarter of 2025, with a 23% decline to $33m and a $20.3m loss. Allbirds had been steadily closing stores since 2023 and announced the closure of all but two of its remaining 20 US stores.Joe Vernachio, CEO of Allbirds, stated that the next chapter for the brand will 'build on the foundational work already completed and set up the brand to thrive in the years ahead.'

UK drivers are being urged to hunt for the cheapest petrol as they prepare for an estimated 21.7 million journeys over the Easter bank‑holiday weekend – the busiest on the roads since 2022. Data from the RAC shows that the average price of a litre of unleaded petrol jumped 20p in March, rising from 132.83p on 1 April to 152.83p on 31 April. This is the fastest monthly increase on record, eclipsing the previous high of 16.6p recorded in June 2022 after Russia’s invasion of Ukraine. RAC policy chief Simon Williams called the rise “unprecedented” but stressed that travellers should fill up as usual and seek the cheapest forecourts nearby ahead of the holiday rush. To ease congestion, National Highways will temporarily suspend 1,500 miles (2,400 km) of roadworks on motorways and major A‑roads in England from Thursday through Easter Monday. The AA predicts this will accommodate roughly 1 million additional trips compared with last year, with traffic expected to peak on Thursday when schools break up. Analysts warn that the sharp fuel‑price surge may curb spending on trips. Susannah Streeter, chief investment strategist at the Wealth Club, noted that shorter journeys and fewer on‑the‑road purchases, such as chocolate treats, are likely. AA survey data shows that just over half of travellers plan to drive less than 50 miles, 5 % expect journeys of 50‑100 miles, about 1 % aim for 100‑200 miles, and fewer than 1 % anticipate trips beyond 200 miles. Rail disruptions are set to push more motorists onto the motorways. Engineering works will suspend west‑coast mainline services between London Euston and Milton Keynes from Good Friday to 8 April, and there will be no trains on several routes—including Preston to Lancaster (4‑5 April), Winchester to Southampton, and Herne Bay to Ramsgate—while services between London Waterloo and Clapham Junction will be reduced. Despite domestic challenges, the travel trade body ABTA estimates that 2 million UK residents will travel abroad this weekend. EasyJet is gearing up for its busiest Easter period yet, planning to operate 16,000 flights from UK airports over the two‑week school break. Passengers heading to the European Union should also prepare for potential two‑hour delays due to the rollout of the EU’s Entry‑Exit System, which requires third‑country nationals, including UK travellers, to submit photographs and fingerprints before entering the Schengen area.

Britain is confronting the most severe energy shock since the early 1970s, as exports of oil, gas and fertiliser from the Middle East have abruptly stopped. The government says a response plan exists, but details remain vague. It is unclear whether the UK is better prepared for the fallout from Donald Trump’s war with Iran than it was for the pandemic six years ago. Ministers are sending a "we have your back" message to the public while simultaneously signalling to financial markets that any assistance will be limited and targeted. Contingency planning is especially difficult when dealing with an unpredictable leader like Trump. Britain’s heavy reliance on imported energy and food means that reassurance can only hold for a short time. The economy entered the conflict already on shaky ground: unemployment rose steadily throughout 2025 and growth stalled to a virtual standstill in the final quarter of that year. The sudden loss of Middle‑East energy and fertiliser supplies now adds a colossal supply shock. Last year, Trump’s “liberation day” tariff hikes served as a dry run for a far more serious confrontation. This time, the war is taking place in a region that is both volatile and crucial to the global economy. In the past two weeks, the repercussions have been felt across Asia – the Philippines declared a state of emergency, Sri Lanka introduced a four‑day work week, and South Korea announced budget measures to help households cope with soaring energy bills. The continent is the most dependent on Gulf‑exported energy, making the impact there the sharpest. The International Monetary Fund warned that the shock will drive higher prices and slower growth worldwide. Shortages push fuel and food prices up, eroding disposable income, prompting businesses to cut staff, and increasing the risk of recession. The UK, already projected to be one of the poorest‑performing major economies in 2026, could see its fresh graduate cohort face a brutal job market. Trump’s claim that the war could end within two or three weeks appears desperate. Even a rapid cease‑fire would leave substantial collateral damage, creating a stagflation scenario that could hurt Republican prospects in the upcoming mid‑term elections. British officials hope a swift resolution will limit economic damage, allowing a short‑term inflation spike to subside and the Bank of England to resume interest‑rate cuts. Treasury plans include scrapping the planned autumn fuel‑duty rise and providing targeted help for the poorest households, though the path is unlikely to be that simple. Currently, the Treasury is hesitant to act boldly for fear of unsettling bond markets. History – the 2008 banking collapse and the 2020 pandemic – shows that governments can act decisively without triggering a market backlash, using tools such as aggressive rate cuts, increased borrowing, and quantitative easing. The Bank of England has warned of a "substantial negative supply shock" and is expected to soften markets for future rate cuts, which are inevitable. Finance Minister Rachel Reeves could mitigate labour‑market pain by reversing recent increases in employers’ National Insurance contributions, subsidising public transport, and even lowering speed limits to conserve energy. The war, like the pandemic and Russia’s invasion of Ukraine, underscores the fragility of global supply chains and the need for greater British self‑reliance. Investing heavily in renewable energy is essential, but the UK also imports roughly 40% of its food and has not run a manufacturing trade surplus since 1982. In a world of disrupted supply lines, a robust plan for economic self‑sufficiency is more urgent than ever. Larry Elliott is a Guardian columnist.

UK businesses are planning to raise their prices more rapidly in the coming months due to the escalating costs triggered by the Iran conflict. A recent survey conducted by the Bank of England among over 2,000 chief financial officers revealed that companies now anticipate increasing their prices by 3.7% over the next year. This marks an increase from 3.4% in February, while the expectation of inflation across the economy has also risen from 3% to 3.5%. The effective closure of the Strait of Hormuz has significantly driven up oil and gas prices, leading to predictions of wider price rises as these higher costs impact industries. The UK Chancellor, Rachel Reeves, has met with retail bosses to discuss the risks of supply shortages and price increases. There is also pressure on her to mitigate the impact of likely rises in household gas and electricity bills before next winter and to reconsider plans for a 5p per liter increase in fuel duty set to take effect by next March. Bank of England policymakers are closely monitoring UK companies' pricing intentions as they consider whether to raise interest rates in the coming months from their current level of 3.75%. Financial markets are currently pricing in two interest rate rises by the end of the year, reflecting a sharp turnaround from expectations of rate cuts before the conflict began. However, Bank of England Governor Andrew Bailey has cautioned that markets may be getting ahead of themselves, and weak consumer demand may prevent companies from passing on cost increases to their customers. He noted that businesses often report an absence of pricing power. Inflation on the consumer price index was steady at 3% in February but is now expected to rise.

The usual visual language of hospital dramas relies on sterile whites and bright fluorescents. ‘What I’m Here For’ discards that palette entirely, immersing the audience in a world of black costumes and shadow‑filled set pieces.This daring aesthetic is the result of a collaboration between Vanishing Point of Glasgow and Teater Katapult from Aarhus, Denmark. Designer Mai Katsume outfits nurses, doctors and patients in deep black, arranging them in stark rows that dominate an ominously dark stage.At the centre stands Lærke Schjærff Engelbrecht as Flora, a nurse forced onto an extra weekend shift because of chronic short‑staffing. Even the flickering strip lights beneath her feet are cloaked in darkness, a visual choice amplified by Simon Wilkinson’s austere lighting design that drains the scene of any residual warmth, turning a hectic night ward into a gothic horror tableau.Written by Josephine Eusebius and performed in a blend of Danish and English, the script follows a familiar premise—too many patients, too few staff—but pushes it to a psychological extreme. Flora cheerfully repeats the hospital‑as‑hotel mantra while confronting impossible choices, such as whether to prioritize a pleasant woman with a brain tumour in room 22 or a demanding lady with a heart condition in room 33.The tension is heightened by Mark Melville’s pulse‑driven soundtrack, a low‑frequency thrum that underscores Flora’s isolation. As in many of director Matthew Lenton’s productions, the protagonist is both integral to and alienated from the medical team, a duality made palpable by her physical separation from the other actors and their disembodied commentary.Throughout the performance, Flora remains downstage, engaging in dream‑like exchanges with colleagues whose looming presence becomes as oppressive as the life‑and‑death decisions she must make. The staging forces the audience to feel the weight of each moral dilemma, turning routine triage into an almost tactile nightmare.‘What I’m Here For’ runs at the Tron in Glasgow until 4 April and will tour to other venues until 18 April.

In a primetime address to the nation, Donald Trump claimed that the US war in Iran is 'nearing completion' and that the US has accomplished 'all of America's military objectives.' However, the conflict continues to escalate, with thousands of deaths in Iran and across the Middle East, and oil prices soaring due to the closure of the strategic strait of Hormuz.Trump argued that Iran's navy and air force have been decimated, leaving the country weak and 'no longer a threat' to the US and the world. He also claimed that the US has become energy independent and blamed Iran for a 'short-term' rise in gas prices. However, the economic pain caused by the conflict is evident, with the cost of gas surging past an average of $4 a gallon for the first time since 2022.The conflict has also caused significant human suffering, with estimates suggesting that at least 1,900 people have been killed and 20,000 injured in Iran since the war began. In Lebanon, more than 1,300 people have been killed, and in Israel, 19 people have been killed and 515 injured. Additionally, at least 13 American service members have been killed, with hundreds more troops wounded.Despite Trump's claims of progress, the war is grinding on, with thousands of US troops remaining positioned in the region, providing the option of a broader ground campaign after weeks of airstrikes targeting Iran. The US president has also faced criticism for his handling of the conflict, with mixed and contradictory signals about the US's objectives and lashing out at US allies for not joining the war effort.

The United States is expanding its military footprint in the Gulf as the US‑Israel war with Iran enters its second month. Since the Feb. 28 launch of Operation Epic Fury, a joint air campaign targeting Iranian military and nuclear sites, more than four weeks of strikes have resulted in thousands of casualties.Defense Secretary Pete Hegseth announced the deployment of a third aircraft carrier, the USS George HW Bush, joining the USS Abraham Lincoln, which is currently conducting daily combat sorties from the Arabian Sea, and the USS Gerald Ford, now under maintenance in Croatia.These carrier groups carry thousands of sailors, Marines and specialised support personnel, forming the core of the US’s power projection in the region.Carrier Strike Group (CSG) refers to an aircraft carrier plus its escort ships and support units that together function as a floating base. A typical CSG includes:An aircraft carrier60‑75 fighter jets and helicopters2‑4 Arleigh Burke‑class destroyersA guided‑missile cruiserA submarine for underwater protectionSupply shipsAs of April 1, the USS Abraham Lincoln remains the only carrier launching daily combat missions against Iranian targets, while the USS George HW Bush is en route and expected to eventually replace the Gerald Ford in the Mediterranean.Amphibious Ready Group (ARG) operates as a mini‑carrier, carrying US Marines and equipment for sea‑to‑land invasions. The USS Tripoli ARG arrived in the Middle East on March 27, and the USS Boxer ARG is expected to join the theater by mid‑April. An ARG typically comprises:Three specialised ships~2,200 Marines (a Marine Expeditionary Unit)Short‑takeoff aircraftLanding craft for beach assaultsThe key distinction: ARGs are built to land troops on shore, whereas CSGs are designed to project air power and conduct major naval warfare.A Marine Expeditionary Unit (MEU) is a rapid‑response, self‑contained force of 2,200‑2,500 Marine Corps personnel capable of combat and humanitarian missions. On Friday, US Central Command confirmed that 2,200 Marines from the 31st MEU arrived in Middle Eastern waters after departing Sasebo, Japan, on March 13. A second unit, the 11th MEU with roughly 2,500 Marines, is inbound after leaving San Diego on March 18.The Pentagon has also ordered about 2,000 soldiers from the 82nd Airborne Division to move to the region, adding to the approximately 50,000 US troops already stationed in the Middle East.An MEU is organized into four elements:Command Element – ~200 personnel for planning and command‑and‑control.Ground Combat Element – ~1,200 troops centered on an infantry battalion with artillery and armoured vehicles.Aviation Combat Element – ~500 personnel operating transport helicopters, attack aircraft and Osprey tilt‑rotors.Logistics Combat Element – ~300 personnel providing up to 15 days of self‑sustainment, including medical, engineering and maintenance support.MEUs are typically deployed aboard a three‑ship ARG, which serves as a floating base. The ships include:Landing Helicopter Assault/Dock – a small carrier carrying short‑takeoff aircraft such as F‑35Bs and attack helicopters.Amphibious Transport Dock – a mid‑size vessel transporting troops and heavy vehicles.Dock Landing Ship – primarily for cargo and heavy equipment.MEUs can execute sea‑to‑land assaults, raids, evacuations, humanitarian aid and disaster‑relief operations, and they are often the first forces on the ground in emerging conflicts.The US Marine Corps maintains seven active MEUs; the 31st (Asia‑Pacific) and 11th (West Coast) are currently assigned to the Iran war. The other units are distributed as follows:East Coast: 22nd, 24th, 26th MEUWest Coast: 11th, 13th, 15th MEUAsia‑Pacific: 31st MEUTypically, three MEUs are forward‑positioned at any time, rotating through deployments in the Mediterranean, Gulf and Asia‑Pacific regions.Historically, MEUs have played pivotal roles in US operations: during the 2001 Afghanistan invasion, the 15th and 26th MEUs conducted one of the longest amphibious vertical insertions; in 2003‑2004 they helped secure Iraqi ports and fought in Fallujah; and in 2024 they provided sea‑based support for the attempted abduction of Venezuelan President Nicolás Maduro.