Faisal Islam: The UK's Trump trade deal no longer looks world-beating
The UK faces potential economic challenges as new US tariff policies under President Trump appear to favor the European Union over Britain. Despite government efforts to secure side deals, the effective trade-weighted tariff rate for the UK may end up higher than that of the EU.
Why it matters
This highlights the shifting post-Brexit trade landscape and the difficulty of maintaining a 'world-beating' trade status in a protectionist global environment.
Image source, Getty Images By Faisal Islam Economics editor Published 58 minutes ago It has been a long road for President Donald Trump as he looks for a justification to erect a tariff wall around the US, including against key allies.
From the opioid crisis to illegal migration, then the need to bring manufacturing back to America's shores, the list goes on.
Through Trump's second term, there has been a new justification almost every month for the trade levies he is seeking to place on allies.
Some have been overturned by the courts, others by economics and some even by their own logic. And so, Trump has now turned to effectively accusing dozens of trade partners of trading in goods that have been produced using forced labour.
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