The Rest Is Money 168. Is Trump’s Deal Good for Britain?
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May 9, 2025 What makes the UK’s new tariff deal with the US so contentious? Robert and Steph dissect the thorny negotiations and their potential fallout, especially for iconic brands like Jaguar Land Rover. They also share a comical tale of a political reporting misadventure that involved a botched taxi ride. Plus, the discussions touch on the digital services tax and its implications for tech giants and public health. With insights on interest rate changes, there's a mix of finance, humor, and international intrigue that keeps things lively!
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Robert Peston's Misadventure
- Robert Peston was sent to the wrong location for the announcement taxi ride cost a lot but he joked it would be billed to the government.
- The deal announcement was surreal with Keir Starmer on speakerphone to Donald Trump at the Oval Office.
Partial Trade Deal Limits Impact
- The UK agreed to a partial tariff reduction with a 100,000 car quota and some agricultural access, not a full trade deal.
- This limited deal leaves uncertainty for British manufacturers like Aston Martin once the quota is reached.
Trade Tariffs and 'Gangster Capitalism'
- The recent tariff reductions only restore rates to pre-Trump levels, so the UK is not better off than before.
- Trump’s tariff strategy is seen as "gangster capitalism," bullying to gain better market access at others' expense.