In the wake of US President Donald Trump's latest announcement of new tariffs on its trading partners, which have shocked governments and investors around the world, the UK is drawing up a list of approximately 8,000 US products that it could charge with retaliatory tariffs if London and Washington don't sign a pact by May 1, The Sun reports. The UK's Business Secretary Jonathan Reynolds published a 417-page list of US products that could be subject to tariffs.
Products likely to attract tariffs
The products likely to attract tariffs include toilet seats, Levi's jeans, and Harley Davidson motorcycles, as well as Daniel’s and Jim Beam whisky, the report further adds.
UK PM Keir Starmer has emphasised securing a trade deal with the US, which would effectively reduce or remove the ten per cent tariff levied on all UK exports and 25 per cent on steel and cars. In a meeting at Downing Street, Starmer said that the UK has a “range of levers at our disposal”.
He said his government would react with “cool and calm heads", telling business leaders in London that he hoped to strike a trade deal with the US that would see the tariffs rescinded.
European Commission denounces Trump's tariffs
Moreover, European Commission President Ursula von der Leyen denounced Trump's levies as a “major blow to the world economy” but held off announcing new countermeasures. She said the commission — which handles trade issues for the 27 EU member countries — was “always ready” to talk.
According to analysts, there is little to be gained from an all-out trade war, given the negative impact higher tariffs can have on growth and inflation.
Europe likely to target US tech giants
Economists are of the view that Europe is likely to broaden the trade war to the vast services sector by targeting Big Tech — a category which remains more vulnerable to retaliation because the US exports more than it imports.
The EU response could include a tax on US digital giants such as Google, Apple, Meta, Amazon and Microsoft, as French officials have recommended.
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