Business news live: FTSE 100 reacts to new Trump tariff rates and Apple appeal €500m EU fine

Despite those Asian nations being hit by tariff rates, stocks were broadly up overnight in stock markets, with Japan’s Nikkei 225, Hong Kong’s Hang Seng and the Shanghai Composite all ending the day’s trading in the green.

This morning in London, the FTSE 100 is…also up. But only just.

It’s fairly flat in early trading, up just 0.04 per cent, with France’s CAC 40 and Germany’s DAX largely following suit so far.

Here are the 14 nations who have been given new tariff rates, effective from 1 August, in order of highest to lowest:

• Laos 40%
• Myanmar 40%
• Cambodia 36%
• Thailand 36%
• Serbia 35%
• Bangladesh 35%
• Indonesia 32%
• Bosnia and Herzegovina 30%
• South Africa 30%
• Tunisia 25%
• Kazakhstan 25%
• Malaysia 25%
• South Korea 25%
• Japan 25%

Japan’s prime minister Shigeru Ishiba confirmed that his government would continue to hold talks with the US, seeking a better deal for both.

“It is deeply regrettable that the US government has announced a further increase in tariffs, in addition to the rates already imposed,” he said.

Despite President Trump announcing a delay to the tariffs deadline – now 1 August – 14 nations have now been sent letters detailing a new tariff rate for them.

Several Asian nations have been particularly hard-hit, with rates up to 40 per cent.

In terms of the most business activity with the US, Japan and South Korea are the two countries who between them account for 8.5 per cent of all US imports – they both have 25 per cent rates starting next month.

Good morning! Welcome back to The Independent’s live coverage of the business world – today’s focus will be very much on tariffs and the latest impacts there, but also we have stock market news, one British company going into administration and plenty more besides.