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so today just after US markets close
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Donald Trump will unleash his liberation
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day tariff package on the world what he
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announces will almost certainly be the
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most aggressive package of trade levies
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ever introduced in modern history it
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will almost certainly cause massive
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global trade consequences not to mention
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it could cost the UK 25,000 jobs that's
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according to the IPR that's the
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Institute for Public Policy Research
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they believe that the big auto
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manufacturers currently based in the UK
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could leave if the economic conditions
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get bad enough the UK manufacturing
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sector is highly exposed to Trump's
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tariffs vehicle exports to the US alone
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are worth 9 billion pounds to the
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economy and the think tank estimates
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263,000 workers currently working in the
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transport manufacturing sector if you're
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to believe reports in the Washington
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Post today what he will announce could
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be 20% flat levies on all imports into
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the US mini and Jaguar Land Rover are
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among the most exposed to these tariffs
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with their factories in Sully and Oxford
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at risk of closing down the UK auto
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industry has already been struggling
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this year so in February the
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manufacturing sector saw an 11.6%
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decline karma has promised a calm and
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pragmatic response to the tariffs so the
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prime minister told parliament today
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that a trade war is in no one's
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interests it's not yet clear if the UK
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is planning retaliatory levies and
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Starmmer says that nothing's been ruled
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out but if he does that has a real risk
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of being inflationary according to some
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economists and that would badly hurt UK
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consumers the announcements are going to
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put huge pressure not only on the UK but
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also on leaders all around the world who
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are now scrambling to find new
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arrangements and new trading partners if
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the US really does step away from some
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of its role as a trade leader trump's
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press secretary has even said that the
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announcement is coming today on the 2nd
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of April not on the 1st in part because
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people might have thought it was an
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April Fool's joke if that doesn't fill
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you with confidence about the state of
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US trade policy there are some UK
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businesses who agree with you for
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everything you need to know about this
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story go to cityam.com
