UK plans trade defense as Trump's comeback threatens global commerce

British officials prepare counter-measures to protect trade as Trump hints at new import tariffs. Government experts analyze economic scenarios while key political figures suggest different approaches

November 10 2024 , 02:37 AM  •  636 views

UK plans trade defense as Trump's comeback threatens global commerce

UK ministers are working on trade defense plans as Donald Trump signals tough import rules for his possible return to power. The ex-presidents idea to put 10-20% tax on imports (and 60% for China) makes UK officials worried about britainʼs future trade

Government experts started looking at different ways to protect UK business including putting similar taxes on US goods. “We have had advice on this from day one including wargaming tariffs“ — a source from inside the government explains

Nigel Farage thinks UK can get special treatment from Trump:

Yes of course he will give exemptions to the UK

Farage speaking at Reform UK conference

The new Conservative leader Kemi Badenoch sees this as a good chance to make UK-US trade better. She wants the government to use old trade deal plans from Trumps first time as president

Some facts about UK-US trade links:
* UK is Americas biggest foreign investor
* US puts most money in UK business
* Previous trade problems happened in 2018
* Current trade peace ends in early-2025

Rachel Reeves will talk at Mansion House about how free trade makes countries rich. The Chancellor wants to keep good relations with US Europe Asia and Middle-East to help UKʼs money-business grow

Past trade fights between US-EU hit british companies hard with both sides putting extra taxes on things like whisky steel and rum. Joe Biden fixed these problems for now but his deal ends in about 4 months

Labour party doesnt say much about future US trade plans while Biden is still president — they dont want to look like their picking sides before anything happens