Trump's proposed tariffs could harm UK goods trade as much as Brexit did, warns a report.

A report by the Resolution Foundation warns that US President-elect Donald Trump's proposed tariffs could severely impact UK goods trade, similar to the effects of Brexit. Since Brexit, UK service exports have grown strongly, but goods exports have stagnated. The think tank notes that a 10-20% tariff on US imports could be as harmful as the non-tariff barriers caused by Brexit. The Foundation urges the UK to focus on easing trade with the EU and expanding services trade with other countries.

December 04, 2024
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