Donald Trump has delivered a significant blow to Rachel Reeves tonight, after he introduced all British items coming into the United States will now be topic to a whopping 10% tariff.
Taking to the White House rose backyard for a much-anticipated press convention, the US President accused each pals and foes of his nation of “raping” them economically.
In surprising language, he advised adoring supporters: “For decades our country has been looted, pillaged, raped and plundered by nations near and far”.
He championed his announcement of tariffs as “liberation day”, claiming it might go down in historical past because the second he “made America wealthy again”.
Brandishing a big chart displaying what nations will probably be hit with what tariffs, he lastly confirmed that the United Kingdom will probably be charged 10% on all items coming into the United States.
While that is the bottom stage tariff being charged to a rustic, it’s a main blow to the UK’s funds, and can largely wipe out all of the spending cuts Rachel Reeves introduced in her spring assertion final week.
Britain’s 10% tariffs are half that being levied on the European Union (20%), and considerably lower than these being whacked on Chinese items (34%) and Vietnamese items (40%).
Working his means down the chart, President Trump gleefully defined: “The tariffs will probably be roughly half of what they’re and [they] have been charging us.”
“The tariffs will not be a full reciprocal – I could have done that – but it would have been tough for a lot of countries so I didn’t want to do that.”
He requested his Secretary of Commerce to deliver the chart of stage, branding his cupboard member “brilliant”.
Explaining the tariffs, Mr Trump stated: “If you look at that, China – first row – China, 67% tariffs charged to the US including currency manipulation and trade barriers.”
“We’re going to be charging a discounted reciprocal tariff of 34%. In other words they charge us, we charge them less so how can anybody be upset?
“They will be because we never charge anybody anything.
“European Union – they’re very tough, very tough traders. They rip us off, it’s so pathetic.”
Finally attending to Britain Mr Trump defined: “United Kingdom [charge us] 10%, and we’ll go 10% [in return].
Bizarrely, whereas Mr Trump have 50% tariff reductions to longstanding enemies just like the EU and China, nevertheless Britain acquired no such lenience.
MORE TO COME…
https://www.express.co.uk/news/politics/2036291/donald-trump-uk-tariffs