Mr Trump has said he plans on introducing a 20 per cent levy on most imports to the US in order to help out domestic businesses, with a 60 per cent tariff on imports from China.
The levy will trim the UK’s economic output by 0.9 per cent by the end of his presidency, according to the Centre for Economics and Business Research. This is the equivalent of £20bn, using 2023’s figures for economic output.
The US is the UK’s second-biggest trading partner after the EU. Britain also sent £188.2bn of exports to the US in the 12 months to the end of June, about a third of which were goods and the rest services. Cars, aviation parts such as jet engines, and medicines could be sectors most affected by the proposed levy.
Denne historien er fra November 19, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 19, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Why fans will shrug at loss of Man Utd's brightest star
A couple of years ago, if the news had broken that Marcus Rashford wished to leave Manchester United and seek his future elsewhere, the effect on the club's fans would have been dramatic.
Will Usyk or Fury 'get old overnight' in their rematch?
In boxing we have an expression we use during a fight, if one of the boxers looks bad: \"He got old overnight.\"
O'Shea is loving the battles at the Republic of Ipswich
As a player who was clocked as the fourth fastest in the Premier League last season, Dara O'Shea relishes it \"when I'm up against a striker and it's me and him\".
Sliding doors moment that saw Spurs embrace chaos
Tottenham fans will wonder what could have been tomorrow as Arne Slot brings league leaders Liverpool to north London
HS2 doesn't need a 'reset'...this line never made sense
Nobody knows how much it will cost or when it will be done. With our creaking transport system, the mounting billions would be better spent elsewhere, says Chris Blackhurst
Hope for economic growth dampened by uncertainty
Fun fact: the OECD still predicts that Britain's economy will be one of the stars of the G7 during 2025 with growth of 1.7 per cent, lagging only behind the US at 2.4 per cent.
Trump's war on the press is straight from Putin playbook
The pen may not be mightier than the sword, but it still has the power to wound. How else to explain the extraordinary remarks of the former Russian president, Dmitry Medvedev, this week in which he revealed how stung he'd been by an editorial in The Times?
Musk calls far-right AfD party saviours of Germany
Elon Musk has described the far-right Alternative for Germany (AfD) party as the country's saviour, sparking calls from Berlin for the US billionaire to \"stay out\" of their politics.
Macron swears in heated exchanges with crowds in cyclone-battered Mayotte
French president Emmanuel Macron swore during an exchange as he was heckled by angry residents of a Mayotte neighbourhood ravaged by cyclone Chido, telling them: “If it wasn’t for France, you’d be 10,000 times deeper in shit.”
Store guard helped uncover abuse of Pelicot by husband
When Gisèle Pelicot was called to talk to police in November 2020, she believed it was to discuss upskirting allegations made against her husband of 50 years.
