Bloomberg Talks
Make UK's Stephen Phipson Talks Tariff Effects
Apr 4, 2025
Stephen Phipson, CEO of Make UK, discusses the pressing challenges UK manufacturing faces due to a 10% US tariff. He emphasizes the need for a trade deal to protect key sectors like automotive and steel, which are critical for the UK economy. Phipson highlights the impressive efforts of the Labour government in navigating relations with the Trump administration. He also addresses the delicate balance the UK must maintain between its dealings with both the EU and the US amidst declining trade volumes.
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Quick takeaways
- Stephen Phipson emphasizes the vital need for Britain to negotiate favorable trade deals to mitigate the impact of tariffs on the manufacturing sector.
- The uncertainty surrounding U.S. tariffs poses significant challenges for UK manufacturers, potentially hindering investment and innovation in the industry.
Deep dives
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