Trump's return: What it means for UK-US trade relations
British-American trade links face new chapter as Trump heads back to White House. UKʼs post-Brexit position might help dodge harsh trade measures unlike last time around
Scottish whisky makers lost bout £500m when Donald Trump started his last trade fight with EU (back in 19). Now with his comeback to White-house things might work different for UK businesses
The post-brexit Britain stands in better spot: our trade with US hits £304bn yearly and US keeps bout £700bn worth of investments here. William Bain from BCC thinks UK-US trade base stays strong — which could help dodge new trade rules
Some good-news came from market response: pound went up 0.8% vs euro since Trumpʼs win; experts say UK might get special deal this time. “The fundamentals of trading relationship are still very strong“ David Henig points out
David Lammy spoke to BBC about UK plans:
We would seek with a new administration to ensure that as a major ally we were aligned
The UK-US link has few key points to note:
* Services make half of UK exports (hard to put tariffs on these)
* UK goods exports to US are just 2-3% of economy
* Trump owns golf-courses in Scotland
* Green-energy policy changes might help UK attract more wind-power investments
Political ties might get tricky tho. Sir Keir Starmerʼs quick congrats to Trump got mixed with Labourʼs support for his rivals campaign which made Trumpʼs team mad. Still Nigel Farage keeps close ties with new president - this might help smooth things out
