close
close

The United Kingdom will “wait and see” at Trump’s reciprocal rates ” – Irvine Times

The United Kingdom will “wait and see” at Trump’s reciprocal rates ” – Irvine Times

The US President announced what he called “reciprocal tariffs” in all other countries on Thursday night, claiming that it was “fair to everyone.”

But immediately after his message, it was not clear how this would apply to the United Kingdom, especially since G -N -Trump suggested that his policy be considered a VAT for a tariff.

Pat McFadon, Chancellor of the Duchy of Lancaster and one of Sir Kiir Starmer’s most ministers, told Sky News on Thursday night that it is important not to “reactivate” the announcement of Trump’s White House.

Pat McFadon
Chancellor of the Duchy of Lancaster Pat McFadden (James Manning/Pa)

Asked what the government’s answer was to the message of G -N Trump, G -N McFadon replied: “Wait and see what it means, this is the best reaction to everything in the last month.

“Sometimes tariffs are announced, a few days later they are unannounced.”

He added: “The most reasonable thing about all these messages is to learn them, to see if they actually come true and then decide what you are doing.”

Saying that there are still “many unanswered questions” about the rate of tariffs, he continued: “We made the decision … that we will not chase every title that has been out in the last month.

“I think that’s the right solution.”

The policy, published by the White House on Thursday, is a wide -ranging, threatening revenge not only for tariffs, but also for other non -tariff barriers and “unjust or harmful actions, policies or practices.”

These include subsidies, “stressful regulatory requirements” for US enterprises and the restrictions of animal and plant products, probably including the United Kingdom food standards that prevent imports of some goods in the United States, such as chlorine, washed with chlorine.

The policy also explicitly mentions “added value tax” as “unfair, discriminatory or exterritorial tax”, although VAT is collected, whether or not a product is imported.

Trump has announced a series of tariffs in the first few weeks of his presidency, including earlier this week, imposing a 25% tax on steel imports.

But as his approach to international trade evaporates relations with some of the close allies of the United States, especially Canada, his messages have not always proven to be constant.

After declaring tariffs for Canada and Mexico, he later stopped them for 30 days after negotiations.

Canada and Mexico have prepared the ranks for the respondents if the obligations come into force, as well as the EU, which has been repeatedly threatened while China has already taken up to 10% rates for its export to the United States.

But on Thursday night, McFadon would not be attracted to whether the United Kingdom plans to avenge, saying it was “premature” to talk about the opportunity.

He said, “How mature would it be for me to get into the studio five minutes after some messages and say” Yes, we will take revenge? “

“This is not the way you make policy.

“We will always uphold the national interest, the obligation of the government is to do it, but the best thing in national interest is to maintain good commercial relations with all that we have to maintain this, right around the world.”

The tariffs on Thursday will not come into force immediately, with Trump orders his advisers to conduct investigations in commercial practices of other countries before proposing what measures to impose.

Following the announcement, British trade chambers (BCC) warned that G -N Trump’s plans would “increase established trade norms” and cause “more expenses and uncertainty for investors, business and consumers around the world.”

But BCC’s commercial policy leader William Bane has called on the government not to “suck in a trade war on TITs for Titus for Titios that could easily go out of control.”

He added: “But this should make the most of the time available before the introduction of these tariffs to negotiate with the United States under alternative arrangements.

“If they do not, then sectors such as cars, pharmaceuticals and food and drinks can be significantly affected, as higher rates inevitably fit the world’s higher prices for consumers.”

The UK trade in the United States costs about 300 billion pounds a year, with the UK bringing just more than the United States than it exports to the country, the hope of the ministers of facts will help to secure Mr Trump’s tariff regime.

The bigger part of the UK exports to the United States is in the service sector and it is unclear whether the tariffs on Friday include services, although the United Kingdom exports cars worth over £ 8 billion and over £ 6 billion in America.

Leave a Reply

Your email address will not be published. Required fields are marked *