Tariffs will hit developing and wartorn nations particularly hard. Plus, Australia records hottest 12 months on record

Good morning.

Donald Trump announced wide-ranging tariffs on the US’s major trading partners on Wednesday in a move that put the world at risk of a global trade war and sent stocks and the dollar tumbling.

How has Europe responded? Using its strongest weapon remains “a last resort”, the head of the European parliament’s international trade committee has said. This refers to the anti-coercion instrument – a law passed in 2023 that allows the EU to impose commerce and investment sanctions.

Have classified details been shared on Signal? The administration has insisted nothing classified was shared in the chat revealed by the Atlantic – but the former state department attorney Brian Finucane says operational details, such as launch times for jets and missiles, would typically be classified.