December 06, 2024 at 06:45AM
Even if Trump slaps UK with tariffs, government has to think very carefully about retaliating
There’s no political constituency for protectionism in this country
Increasing costs of goods or food for your constituents is not attractive
A trade war doesn’t benefit anyone
Hopes the UK won’t be targeted by Trump
But if it happens, balanced trade with the US should reduce the risk of fresh tariffs
Full transcript (may be gated)
The UK is one that is not directly targeted by Trump but would still be affected by the threat of blanket tariffs, which Trump is suggesting to be around 10% to 20% for now. So, there’s still a risk of that having an impact on the economic situation.
This article was written by Justin Low at www.forexlive.com.