President Donald TrumpThe Bank of England has warned that the full fallout from Donald Trump’s tariffs may still be yet to come.The UK economy was already struggling, having unexpectedly shrunk by 0.1% in January this year, before the US president chose to put a 10% tariff on all British goods.Trump also announced a 25% global levy on cars and steel products as part of his so-called “Liberation Day”.Shortly after the tariffs came into effect, the FTSE 100 – the index of the top performing companies in the UK – fell sharply.It continued to fall after China slapped a reciprocal 34% rate on US goods, and Trump escalated tariffs against Chinese imports up to 104%.The FTSE 100 slumped once more after China announced it would impose 84% retaliatory trade tariffs on the US on Wednesday.Trump also claimed further tariffs on pharmaceuticals “very shortly”, despite rising fears of a global recession.The Bank of England said today that British growth could be severely impacted by Trump’s