Trump’s Tariffs Could Harm UK Trade, Business Secretary Warns
UK Business Secretary Jonathan Reynolds said the tariffs announced by US President Donald Trump pose a threat to the UK because they will damage global trade.
Speaking to Radio Times, Reynolds explained that anything that disrupts the global trading system poses a threat to the UK.
“Any barrier to trade, particularly between the UK and our main trading partner, which is the United States, is frustrating to me. It is a challenge. I recognise that the UK is in a better position than many other countries from what was announced last night, but I was still disappointed,” the minister said.
As a reminder, Donald Trump has announced a minimum basic tariff of 10% on almost all goods imported into the US. According to Trump’s decision, a 34% tariff will be imposed on China, 20% on the European Union, 46% on Vietnam, 32% on Taiwan, 24% on Japan, 26% on India, 25% on South Korea, 36% on Thailand, 31% on Switzerland, 32% on Indonesia, 24% on Malaysia, 10% on the United Kingdom, 17% on Israel, and 30% on South Africa.