UK set to be among worst hit by Trump's 15% global tariff
#Trump tariffs #UK trade #Global Trade Alert #US-UK relations #Trade uncertainty #15% global tariff #Trade deals #Brexit impact
📌 Key Takeaways
- UK will be among worst hit by Trump's 15% global tariff due to previously negotiated lower rates
- Countries like China and Brazil with existing higher tariffs will be relatively better off
- US Trade Representative insists previously negotiated sector-specific deals will remain intact
- The tariff creates significant uncertainty for businesses and consumers
📖 Full Retelling
The UK is set to be among the countries worst affected by US President Donald Trump's newly announced 15% global tariff, which is scheduled to take effect on Tuesday following the Supreme Court's ruling that struck down his previous global tariff proposal, according to analysis by think tank Global Trade Alert. The British Chamber of Commerce has warned that the UK would 'sit towards the bottom of league table' of trade partners if the tariff is implemented, highlighting the particularly negative impact on Britain. The UK had previously negotiated a favorable 10% tariff deal with the US, making it more vulnerable to the new 15% rate compared to countries like China and Brazil, which currently face higher tariffs and would therefore be relatively better off under Trump's plan. According to the analysis, countries heavily criticized by the Trump administration would actually benefit from the new tariff structure. However, US Trade Representative Jamieson Greer has attempted to reassure allies, stating that trade deals previously negotiated would still stand. He specifically mentioned that the 15% levy would not affect existing sector-specific agreements between the UK and US, particularly in steel, aluminum, pharmaceuticals, automobiles, and aerospace sectors which represent most of the UK's trade with the US. Greer told CBS that he had communicated with the EU and other countries over the weekend, emphasizing that the existing deals were not contingent on tariff litigation outcomes.
🏷️ Themes
Trade Policy, International Relations, Economic Impact, Uncertainty
📚 Related People & Topics
Tariffs in the Trump administration
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Connections for Tariffs in the Trump administration:
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Commercial policy
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Supreme court
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Trade war
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Original Source
UK set to be among worst hit by Trump's 15% global tariff 21 minutes ago Share Save Mitchell Labiak Business reporter Share Save The UK is set to be among the countries worst hit if US President Donald Trump's 15% global tariff goes ahead, analysis has suggested. The UK had negotiated a 10% tariff deal with the US and would be one of the hardest hit, while countries such as China and Brazil which have higher rates would be better off, according to think tank Global Trade Alert . The British Chamber of Commerce told the BBC the UK would "sit towards the bottom of league table" of trade partners if Trump's announcement came into effect on Tuesday. However, US trade representative Jamieson Greer has said trade deals allies had negotiated would still stand . The BBC has asked the UK's trade department for comment. On Friday, the US Supreme Court outlawed most of the global tariffs that Trump had announced last year, saying the president had overstepped his powers. Trump then said a new 10% global tariff would replace the ones struck down, and then on Saturday revised the rate to 15% . This 15% levy does not affect tariffs the UK and US had agreed on specific sectors, such as steel, aluminium, pharmaceuticals, automobiles and aerospace, which represent most of the UK's trade with the US. The British Chamber of Commerce's president, Andy Haldane, told the BBC: "The perversity of what happened of the weekend was that those who got good deals, the allies, have been most disadvantaged." Meanwhile, countries the Trump administration had heavily criticised, such as China and Brazil, would do best because the 15% tariff will be lower than the level they currently pay, according to GTA's analysis. However, on Sunday, US trade representative Jamieson Greer said trade deals allies had negotiated still stood. He told CBS that he had spoken to the EU and other countries over the weekend. "The deals were not premised on whether or not the emergency tariff litigation would rise or fal...
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