Barclays has become the first major UK lender to cut its mortgage rates in response to changing market conditions.
Barclays cut its mortgage rates below the 4% threshold to 3.99% on certain fixed-term deals, joining several smaller lenders who lowered rates this week, including Coventry Building Society, TSB, the Co-operative Bank and Bank of Ireland.
US President Donald Trump has slapped import taxes on dozens of its trading partners but has since paused the higher rate on some of them.
However, concerns are still looming that the increased tariffs may cause an economic slowdown.
The move has led analysts to predict the Bank of England will reduce borrowing costs by more than expected this year in order to boost growth.
Barclays is cutting rates on several of its products, including its two-year and five-year fixed deals, from Friday. But, these fixed rates of below 4% are only available to borrowers with a 60% loan-to-value and an £899 fee applies.