Rachel Reeves: UK will not ‘rush into action’ after Trump’s tariffs speech April 2, 2025 Chancellor Rachel Reeves has indicated that the UK is unlikely to respond quickly to President Trump should he impose damaging tariffs on goods coming from Britain. In a hearing at the Treasury Committee on Wednesday, Reeves said the UK would not “rush into action to get a quick headline”. “The prize on offer is a [...]
Trump’s tariffs could crush UK growth to zero April 2, 2025 US President Donald Trump’s tariffs could knock UK growth down to zero next year, according to the National Institute of Economic and Social Research (NIESR). The prospect of low or zero growth would deal a catastrophic blow to Chancellor Rachel Reeves’ plans for further investment in public services as estimates by NIESR suggest that a [...]
Investment industry shuns US stocks amid Trump tariff threat April 2, 2025 Investors are finally pulling back from US stocks amid uncertainty over president Donald Trump’s looming tariffs and potential for better gains in Europe and the UK. A survey of investment management CIOs from Asset Risk Consultants (ARC) found that a third of wealth managers slashed exposure to the US throughout the last quarter. Sentiment among [...]
Chelsea and Manchester City fans face ban from Club World Cup April 2, 2025 Chelsea and Manchester City fans who have received football banning orders will be banned from travelling to the US this summer for the Club World Cup. Supporters who have previously committed “thuggish behaviour” – including violence, disorder, pitch invasions, use of pyrotechnics and online hate crime linked to football – will be required to surrender [...]
LIVE: Investors brace for Trump’s ‘liberation day’ April 2, 2025 The world is bracing for Trump’s ‘Liberation day,’ with the President set to impose a fresh batch of tariffs on nations across the globe this evening. Trump will speak from the White House Rose Garden at 16:00 (21:00 BST) to unveil his new set of levies. The President’s Press Secretary Karoline Leavitt said the tariffs [...]
US tariffs: UK being ‘supine’ and should ‘retaliate’, Lord Rose urges government April 2, 2025 The UK has been “supine” to US President Donald Trump and should be “firm” and “find some way to retaliate”, Lord Rose has said. The businessman and former boss of M&S and Asda told Times Radio the government has been “supine” to President Trump and should be “firm” in threatening retaliatory tariffs. He said it’s [...]
Trump’s car tariffs to put 25,000 UK jobs at risk, IPPR say April 2, 2025 President Donald Trump’s 25 per cent tariffs on all car imports to the US could destroy thousands of UK jobs, the Institute for Public Policy Research (IPPR) have suggested. The think tank estimates that around 25,000 jobs will come under threat as a result of Trump’s tariffs due to come into effect on Wednesday. The [...]
Economics 101: consumers always pay for tariffs April 2, 2025 If there’s one thing every economist agrees on, it’s that the only people who benefir from tariffs are cynical politicians, says Daniel Freeman Economists almost never agree on anything. Even if you ask a single economist their view on a subject they will generally give you at least three contradictory positions. This makes the overwhelming [...]
IFS director: Tariffs risk undermining ‘best case’ OBR forecasts April 1, 2025 Institute for Fiscal Studies (IFS) director Paul Johnson has raised questions about whether the Office for Budget Responsibility (OBR)’s forecasts would remain credible should President Trump slap tariffs on UK goods on Wednesday. The OBR’s report included modelling by the International Monetary Fund (IMF) published in January. The IMF’s analysis did not consider the potential [...]
Explainer: What could a UK-US trade deal look like? April 1, 2025 US President Donald Trump is expected to impose new tariffs on imports from countries around the world this week, with the UK set to be affected by the global tax changes. No10 has confirmed the government is “actively preparing for all eventualities” ahead of Trump’s announcement on April 2, and that we “expect the UK [...]