The listing has landed.
Greater than 400 pages of hundreds of products that might be affected by reciprocal tariffs in opposition to the US.
Every little thing from recent home geese to sea-going dredgers makes the lower; most symbolic, nonetheless, are iconic American gadgets like denims, bikes and whiskey.
Would Donald Trump stand for a levy on Levi’s? It is not the primary time this battle has performed out.
When the US president introduced tariffs on metal and aluminium in his first time period, the EU responded with its personal – together with a symbolic 25% tax on American whiskey.
On the time, the UK, then an EU member, adopted swimsuit.
However because the UK tries to carve its personal path exterior the bloc, vindicated by the baseline 10% tariffs imposed as a substitute of the EU’s price of 20%, the intention is to keep away from retaliation.
The federal government need us to know “all options are on the table” – however that’s not how they need this to play out.
“This is not a short-term tactical exercise,” the prime minister mentioned this morning.
Regardless of the enterprise secretary’s finest efforts throughout his latest journey to Washington to attempt to safe a UK tariffs carveout, no deal was reached in time.
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How will tariffs hit working individuals?
Mr Trump needed his huge bang, board brandishing second; carveouts for sure international locations would have softened the affect of his speech.
However with 90-plus international locations on the tariff billboard, how far alongside the queue is any UK deal?
And the way a lot are we keen to present? Will the delicate topic of chlorinated rooster be on the desk? What of the settlement to chop taxes on huge tech corporations that Mr Trump desires?
A lot of questions. The day after the surreal night time earlier than is simply too quickly to know all of the solutions, however that is about politics as a lot as it’s about economics.
Because the prime minister launched Labour’s native election marketing campaign in Derbyshire immediately, he talked about potholes, excessive streets and faculty meals. Each query I heard was about tariffs.
Selections made throughout the Atlantic are looming massive. Tariffs might in a roundabout way sway many votes within the native elections, however the penalties for Rachel Reeves’s fiscal headroom and the sum of money she has to spend, or save, will have an effect earlier than too lengthy.
