Trump's tariffs hit firms hard

EXPORT IMPACT AFFECTS JOB LOSS

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FIRMS have seen workloads plunge to a two-and-a-half-year low as US President Donald Trump's tariffs hammer exports, forcing more "aggressive" job-cutting, a report suggests.

Businesses face a “struggle to keep their heads above water” amid the hit to trade and a jump in costs from this month's increase in employers' National Insurance, say data experts S&P Global.

Its purchasing managers' index, which measures output in the private sector, fell from 51.5 in March to a 29-month low of 48.2 in April. Any score above 50 indicates activity is growing, while below this means it is contracting.