Trump's Proposed Trade Tariffs: A Boon for the UK?

Forex - Trump's proposed trade tariffs could be a boon for the UK; analysts point to potential exemptions, economic upturns, and a possible resumption of trade agreement negotiations. The UK may hope that its "special relationship" across the Atlantic and Trump's proximity to Brexit will be enough to spare it from the proposed most punitive trade tariffs. However, analysts suggest that the new president's primary motivation will be entirely economic. Jonathan Pingle, UBS's chief U.S. economist, stated, "The UK's advantage is that it is not a target in the trade war. It does not have the same need to level the playing field and address trade imbalance." Trump has long argued that global trade imbalances have disadvantaged the U.S. economy and that domestic manufacturing has been particularly harmed by foreign goods. Therefore, in his 2024 campaign, he pledged to impose a 10% to 20% tariff on all foreign imports, indicating that the rate for Chinese goods could rise to between 60% and 100%.