In just a few hours, Donald Trump is set to take his tariff war global. At 9 p.m. UK time (4 p.m. in Washington), the American President will unveil a sweeping set of trade tariffs, on what he’s dubbed ‘Liberation Day’. What exactly Trump plans to announce remains unclear, but reports suggest everything from global reciprocal tariffs to the enforcement of the 25 per cent duties originally aimed at Mexico and Canada could be on the table.
As Katy Balls noted in today’s Lunchtime Espresso, any hopes in Whitehall of securing a UK exemption have all but evaporated. The focus has now shifted from lobbying to damage control, as the economic fallout begins to bite. Ministers are quietly hoping that a trade deal lite could be brokered later – perhaps in exchange for softening measures like the digital services tax that annoy folk in Silicon Valley.
Keir Starmer appears to be resisting the temptation to strike back
But the damage has already begun.
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