Quotes
If you don’t discriminate against US goods, then the other partner – in which case the UK – will not have their goods discriminated against
Derbyshire asked what the UK needed to do to get the tariffs cut, to which he said
I find it strange that you’ve been afforded such an exceptional status and you’re complaining?
But the debate on the US-UK relationship soon blew up, with Gorka telling the veteran BBC presenterIf tariffs contribute to higher inflation, central banks may be forced to tighten monetary policy, which can weigh on bonds and borrowing costs. This could impact everything from mortgage rates to corporate investment, potentially slowing economic growth."
Myron Jobson, Senior Personal Finance Analyst at Interactive Investor, has clarified the potential knock-on effects of tariffs on inflation and monetary policy
For investors with exposure to US equities - either directly or through pension funds and ISAs - this could translate into market turbulence. Any sell-off in US stocks could drag down the performance of funds with heavy US exposure – not least global funds as they typically have a substantial weighting to US equities."
He addedWe will continue to negotiate on a deal in our interests. Decisions will be guided only by our national interests and what is best for the security of working people. We will go further and faster on the changes we’ve promised to make our economy more resilient."
He addedIt’s the hard data on employment, income and tariff-induced inflation — not consumer sentiment — that supports our view of a slower trajectory for consumer spending,
Jack Kleinhenz, the NRF’s chief economist, said in a statement
Tariffs are a tax paid by the US importer that will be passed along to the end consumer,
David French, the trade organization’s executive vice president of government relations, said in a statement yesterdayIt may sound counterintuitive but staying invested throughout times of volatility is the best strategy. When markets hit rocky waters, jumping in and out should be avoided, otherwise you run the risk of missing out on unexpected opportunities that might arise from market corrections.”
Tom Stevenson, investment director at fund management company Fidelity International, says
Taking a long-term approach and remaining invested in spite of highs or lows is more likely to get you the outcome you want,
he saysStanding up to Trump might suit what he’s been trying to do, which is make Labour the patriotic party,
said Steven Fielding, an emeritus professor of political history at the University of Nottingham
His strategy up till now has been perfectly understandable,
said Jonathan Portes, a professor of economics and public policy at King’s College LondonI have very good news today, a lot of good things are happening for our country,
he saidNo, I want those tariffs removed. I want them removed in terms of the 10% that's been announced. I want them removed on steel and aluminium,
he told BBC Radio 4's Today programmeIt's keep calm and remain working very hard to get the best for the UK."
Asked if his strategy wasI want not only to remove what has been announced so far, but to strengthen that relationship."
He addedI just wondered what deal are you willing to strike?"
He then asked ... However,We don't believe there is a need for these additional tariffs."
He addedWell first of all, you are right to say that we wanted and believed a deal could have been done in advance of the decisions yesterday. The President made clear that that was not available to any country in the world and we've got to understand and respect that,
he saidThe likelihood is there will be tariffs. Nobody welcomes that. We're obviously working with the sectors most impacted at pace on that. Nobody wants to see a trade war. But I have to act in the national interest, and that means that all options have to remain on the table,
he added
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Anything that disrupts the global trading system is a threat to the U.K. because we are a much more globally orientated trading economy than some partners,
Jonathan Reynolds told Times Radio on Thursday, according to Reuters