Nov 19 2024 2 mins
Several of the country’s business bodies want the Government to try to rekindle a relationship with Brussels to allow them to rediscover export markets despite the rigours of Brexit.
The UK’s departure from the European Union was always far more about individual opinions than those of the business community, and even if there are significant opportunities to be explored in the “wider world” it makes no sense to ignore what is on the doorstep.
Nigel Farage is trying to leverage his relationship with Donald Trump to push the UK towards closer ties with the U.S. Still, in truth, people are still determining if the threat of tariffs being placed on U.S. imports will apply to the UK, special relationship or not.
The President-elect’s plan to impose a 60% levy on Chinese goods and a 20% tariff on all other imports “presents challenges” for the UK government, according to the Centre for Economics and Business Research (CEBR).
The CEBR estimates that, if implemented without retaliation, these tariffs could lower UK GDP by 0.9% by the end of Trump’s term, equating to a £20bn impact based on 2023 economic data.
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
The UK’s departure from the European Union was always far more about individual opinions than those of the business community, and even if there are significant opportunities to be explored in the “wider world” it makes no sense to ignore what is on the doorstep.
Nigel Farage is trying to leverage his relationship with Donald Trump to push the UK towards closer ties with the U.S. Still, in truth, people are still determining if the threat of tariffs being placed on U.S. imports will apply to the UK, special relationship or not.
The President-elect’s plan to impose a 60% levy on Chinese goods and a 20% tariff on all other imports “presents challenges” for the UK government, according to the Centre for Economics and Business Research (CEBR).
The CEBR estimates that, if implemented without retaliation, these tariffs could lower UK GDP by 0.9% by the end of Trump’s term, equating to a £20bn impact based on 2023 economic data.
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.