More tariffs for Britain?
Britain is on the brink of an economic crisis as Donald Trump is said to be preparing to impose a deadly 21% tariff on UK goods.
The move is not just a £24bn blow to the UK economy, but also a major threat to the stability of Keir Starmer’s government.
The National Institute of Economic and Social Research (NIESR) has warned that the tariffs could wipe out 0.4% of GDP growth over two years, adding further pressure on a government already struggling with shrinking “fiscal space”.
Trump, known for his tough trade policies, has never been more lenient with the UK already being hit with a 25% tariff on its steel in the US.
Now, with Washington using VAT as a pretext for its next trade attack, the risk of a transatlantic trade war is growing.
Can the UK government survive, or is this set to be the biggest trade crisis since Brexit?
