Sky News Daily Trump's tariffs: what do they mean for Britain?
Apr 3, 2025
The impact of Trump's 10% tariffs on British exports sends shockwaves through various industries, particularly the whisky sector. Distilleries face tough decisions as they weigh passing on costs to consumers. The discussion highlights the emotional strain on businesses while navigating these trade complexities. As the UK grapples with its post-Brexit trade relationships, questions arise about future negotiations and potential retaliatory measures. Will the UK find a way to ease the economic burden? Tune in for insights!
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Impact of Tariffs on the UK
- The UK gained clarity on the tariffs imposed by Donald Trump, but it's bad news.
- The base rate is 10% on UK exports, lower than other countries but still a blow to British industry.
Reason for UK's Lower Tariff
- The UK's relatively low 10% tariff is likely due to its smaller trade surplus with the US compared to other nations.
- Trump's tariffs target countries with large trade deficits, and the UK's trade with the US is more balanced.
Whiskey Distillery's Perspective
- Anthony Wills, from Kilhoman Distillery, shared his reaction to the tariffs and their impact on his business.
- He expressed disappointment and concern for his employees, highlighting the added challenges amidst economic headwinds.