New Trump Tariffs Policy What You Need To Know

Trump tariffs are sparking concern among UK business groups, who warn of serious economic consequences. Experts say the new trade measures could cause untold damage to UK industries.
Analysts say that the UK’s low 10 percent of tariffs rate doesn’t mean there is a strong relationship between the US and the UK.

London, United Kingdom – Louise Verity, a 42-year-old businesswoman from Northampton, has worried about the Trump tariffs since she first heard about them in January.
She runs a business called Bookishly, which sells gifts for book lovers like prints, art, and stickers related to classic books.

Business leaders urge government action to protect UK interest

More than 60 percent of her sales go to the United States. Now, those products will have a 10 percent tariff. This is lower than the taxes for some other countries, but still a big problem for her.
“Although it’s not the worst, a 10% tariff on the UK is still a lot. If it had been 30 percent, I probably would’ve given up and waited for everything to fall apart. It’s still hard to deal with. And the other thing is, what do we even tell our customers? I don’t have any clear answers.”

She thinks big companies will just raise their prices and make customers pay the extra cost, but she doesn’t feel like she can do that.

Verity is one of many business owners around the world trying to figure out if they can survive the new tariffs. These tariffs are part of President Donald Trump’s plan to improve the US economy, but they may hurt many others in the process

Tina MCkenzie Review on Trump Tariffs

Tina McKenzie which is a policy chair of the Federation of Small Businesses. She said that, “The news about 10 percent tariffs on trade between the UK and US is a big setback for small businesses. Right now, 59 percent of small UK exporters sell to the US. These tariffs could seriously harm small businesses that are already struggling to make a profit while the UK economy isn’t growing.”

She said the impact will “slow down growth, reduce opportunities, and badly affect the global economy. Now, we have to look closely at the details to understand exactly how this will affect small UK exporters.”
Many people and groups have strongly criticized the Trump’s tariffs.

Experts fear new Trump tariffs could disrupt trade and harm UK industries

Steven Hail, an economics professor based in Australia, said that even after looking at the so-called logical reasons behind Trump’s tariff plan, “we couldn’t find any that actually made sense. There’s no clear plan that seems reasonable.”
Many others agreed with him. Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, told clients, “Trump’s tariff announcement was worse than expected.”

She explained that while the overall tariff was expected to be 10 percent, the actual rates for major trading partners were much higher: 34 percent for China, 20 percent for Europe, and about 24 percent for Japanese imports. The UK was hit less, with a 10 percent rate, but countries like Vietnam and Lesotho faced the worst, with tariffs of 46 percent and 50 percent.

In theory, countries can now try to negotiate with the US to lower their tariff rates.
The market response has been negative and expected. Stock markets dropped in most places. The price of oil, which is a good indicator of expected global growth, fell below $70 a barrel.

Nike’s shares, which make many of its shoes in Vietnam, dropped by 14 percent when the tariffs were announced. UK Prime Minister Keir Starmer has said he will stay calm after Trump tariffs.
It seems unlikely he can make Trump calm down, though.

There’s an old saying in economics: when the US sneezes, the rest of the world catches a cold. This means when the US has an economic problem, it affects other countries too.
But one of the places facing a 10 percent tariff is the Heard and McDonald Islands in Antarctica. Since only penguins live there, it’s unlikely the US will raise much extra tax from this region.

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