U.S. President Donald Trump has threatened to impose tariffs on the UK, citing a trade imbalance. While he expressed a willingness to work out an agreement with the UK, he stated that tariffs were 'definitely' happening with the European Union. This sparked concerns of a trade war that could negatively impact economic growth and consumer costs.
U.S. President Donald Trump has said that although Britain was “out of line” when it came to trade he thought it may be able to avoid tariffs, adding of the imbalance: “I think that one can be worked out.”on Mexico, Canada and China over the weekend and said they would “definitely happen” with the European Union, sparking fears of a trade war that would derail economic growth and hike consumer costs. He paused tariffs on Mexico on Monday, a day before they were to take effect.
He said British Prime Minister Keir Starmer had “been very nice. We’ve had a couple of meetings, we’ve had numerous phone calls. We’re getting along very well. We’ll see whether or not we can balance out our budget.” Asked at a press conference whether he would be willing to water down his EU reset to keep Trump happy, Starmer stressed that Britain would not pick one side over the other.
“We have a fair and balanced trading relationship which benefits both sides of the Atlantic,” the spokesperson said. “We look forward to working closely with President Trump to continue to build on UK-U.S. trading relations for our economy, businesses and the British people.” According to British data, Britain had a trade in goods surplus of £1.9-billion with the U.S. in the year to the end of the third quarter in 2024.
TRADE WARS TARIFFS DONALD TRUMP UK ECONOMY BREXIT
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