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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on April 24, 2025

    Featured image for article about Finance

    By David Milliken

    LONDON (Reuters) -British shoppers took fright at the global financial market turmoil unleashed by U.S. President Donald Trump's tariff announcements earlier this month, according to a survey published on Thursday by the British Retail Consortium.

    The trade body said its balance of consumer sentiment about the state of the economy sank to its lowest in at least a year at -48 in April, down from -35 in March.

    The survey was based on a poll of 2,000 consumers between April 4 and April 7, shortly after Trump announced minimum tariffs of 10% and higher tariffs for most of the United States' main trading partners, sparking fears of a global trade war.

    "With fieldwork completed just days after Donald Trump's 'Liberation Day' tariffs, it is unsurprising that consumer expectations for the economy plummeted," BRC Chief Executive Helen Dickinson said.

    The BRC survey is one of the first to show British consumers' reaction to the prospect of tariffs, which economists expect will lead to slower growth in Britain - but possibly cheaper goods imports too.

    A previous survey of British consumers by Barclays, conducted from April 8 to April 11, had shown little change in confidence, although the questions were more backward-looking and focused more on the state of the economy in March.

    Britain has not imposed retaliatory tariffs and may become a destination for surplus Asian and European exports that can no longer be sold cheaply in the United States.

    Finance minister Rachel Reeves announced on Wednesday that the government would take steps to prevent the dumping of goods with unfairly low prices.

    The BRC noted that shoppers' gloomier assessment of economic conditions and their own personal finances did not translate into scaled-back spending plans as Easter holidays drew nearer.

    (Reporting by David Milliken; editing by William James)

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