- 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.
