US EditionWhat impact will Trump’s tariffs have on the UK?
- Trump plans to impose reciprocal tariffs on the UK starting next month, affecting imports to the US while considering VAT rates in the process.
- The UK's standard VAT rate is 20%, which could result in significant reciprocal tariffs from the US, impacting around £2.7 billion of UK exports.
- The European Union plans to impose tariffs on £22 billion worth of goods imported from the US, raising pressure on the UK to respond similarly to the US actions.
- President Trump cites the need for fairer trading relations and increased revenue for the US government as justifications for these tariffs, despite skepticism from economists.
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Canterbury business leaders keep close eye on Trump tariffs
United States president Donald Trump’s tariff hikes are being watched closely by the Canterbury business community to see how they play out for local importers and exporters. PHOTO: TIM CRONSHAW Canterbury business owners are feeling uneasy about United States president Donald Trump’s sweeping tariffs on trading partners coupled with ongoing international conflicts.
·Otago, New Zealand
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