US tariffs lead to job cuts at Aston Martin and trade tensions with UK and EU

The US has imposed new tariffs, which are taxes on imported goods. This has directly impacted the UK luxury car company Aston Martin, which is cutting 20% of its staff because the tariffs make its cars more expensive to sell in the US.

In response, the UK government has warned it might retaliate with its own tariffs, saying 'nothing is off the table.' The European Union is also seeking clarity on its trade deals with the US. Trump's trade representative has stated the US will not back out of its tariff agreements with the UK and others.