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UK braces for Trump tariffs as ‘Liberation Day’ dawns

Starmer breaks silence on Trump's 'disappointing' global tariffs
  • The UK is bracing for the impact of US President Donald Trump's planned trade war, with new import tariffs expected to be announced on Wednesday.
  • Foreign Secretary David Lammy said that the UK is in intense discussions with the US administration on an economic agreement but must prepare for the worst.
  • Goldman Sachs predicts a larger negative impact on UK GDP than previously estimated, even with a UK-US trade deal, due to tariffs on the EU.
  • A study by Aston Business School estimates a potential global cost of US$1.4 trillion (£1.1 trillion) due to escalating trade war scenarios.
  • Prime Minister Sir Keir Starmer has acknowledged the likelihood of tariffs being imposed on Wednesday, which Mr Trump has dubbed “Liberation Day”.
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