AJ Bell analyst Russ Mould said: “The administration is clearly prepared to implement tariffs rather than just using them as a negotiating tactic but, as the delay to tariffs on Canada and Mexico shows, negotiation is possible.”.
The export-heavy FTSE has hit a succession of record highs in recent weeks, despite concerns that Mr Trump’s tariff plans could hit the UK.
The figures come just days after US activist investor Elliott Investment Management was reported to have bought a stake in BP, spurring hopes of a strategy rethink and board overhaul.
It came after the US president raised import tariffs on steel and aluminium to 25% “without exceptions or exemptions”, marking a big increase from the 10% level he levied in 2018.
The FTSE 100 firm reported a 36% drop in profit to 8.92 billion dollars (£7.22 billion), pushing shares down 0.7%.
