Media: Trump’s tariffs pose bigger threat to UK than to EU
The duties that the Donald Trump administration is going to impose could have a bigger impact on British firms than on EU countries, TASS reports citing Bloomberg
According to media reports, certain industrial sectors in the UK depend on the United States as their main sales market. The news agency says that it is still unclear how the policy of US President-elect Trump will affect the UK; however, during the election campaign he promised to raise tariffs by up to 20 percent on goods from most countries of the world.
Bloomberg points out that American consumers are major buyers of British exports, in particular cars, machinery, chemicals and various pharmaceuticals. This makes British companies particularly vulnerable to the Trump administration’s plans to raise tariffs.
Donald Trump said during the election campaign that he intends to significantly increase import duties if he wins the November presidential election. In the election programme, he proposed to introduce 10 percent duties on the import of any goods, while imports from China would be subject to 60 percent tariffs, and cars manufactured outside the United States – 100 percent.
