Trump's proposed tariffs could reduce the UK's GDP by 0.9%, impacting key sectors.

The Centre for Economics and Business Research warns that US President-elect Donald Trump's proposed tariffs could reduce the UK's GDP by 0.9%, impacting sectors like automotive and pharmaceuticals. Trump's policies include a 60% levy on Chinese imports and a 20% tariff on other imports. The UK could mitigate losses by pursuing a US-UK Free Trade Agreement. Meanwhile, the Nasdaq 100 is set to surge, while the Dow Jones and S&P 500 are expected to fall slightly. Market performance is being affected by Trump's election and related economic policies.

November 18, 2024
32 Articles