New report reveals that Trump tariffs could hit the UK as hard as Brexit hit trade with the EU.
The report, published this morning by the Resolution Foundation, warned that the impact on British businesses of 10-20% tariffs under Trump, would be roughly equivalent to the non-tariff barriers that Brexit imposed on goods sales to the EU.
Currently 47% of UK goods and exports are sold in the bloc.
Best for Britain campaigns for closer UK-EU ties, primarily through beneficial regulatory alignment, a youth mobility scheme and a new and independent UK Board of Trade.
Tom Brufatto, Director of Policy and Research at Best for Britain said,
“Maintaining close relations with the US remains vital to our national interest, but to ease the cost of living crisis the Government should continue to prioritise improving trade with our European neighbours.
“The Government’s relationship reset with the EU is off to a promising start and they shouldn’t lose sight of the prize at a time when we desperately need to break down barriers to trade.”