(LONDON, England)– While academics, political pundits, and other professionals have been discussing the ramifications of President Donald Trump’s tariffs within the U.S., they will also have noticeable effects abroad, particularly in the U.K.
The 10% tariff on UK goods from the US may jeopardize what is often referred to as the “special relationship” between the long-time allies, and the 25% tariff on Britain’s automotive and steel industries may hurt both American and British consumers.
Regarding the thought process behind instituting the tariffs, Keith Pilbeam, a professor of International Economics and Finance at City University of London said, “The more you’re importing from that country, the more you like their goods and services. The idea that you want balanced trade with every country is stupidity of the highest order.”
The U.K. government has been working with the U.S. to strike a deal regarding the tariffs, in order to maintain their previously strong relationship with the American government.
