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No British action can completely insulate our economy from disruption abroad.

Relying too much on foreign producers could threaten economic security by “rendering U.S. supply chains vulnerable to geopolitical disruption and supply shocks,” Trump said in his executive order.

Westminster City Council said it granted the "vast majority" of licensing applications and only refused ones where safety concerns had been raised by the police or because significant disruption was likely.

White House officials have acknowledged they expect initial turbulence from the tariffs announcements, but Trump has said the disruptions will be worth it when “jobs and factories will come roaring back into our country.”

The risk of a trade war and the disruption of supply chains have landed a blow on American companies like Nike, Apple and Gap, which dropped 11%, 9% and 20% respectively.