No country can avoid the economic impact of Donald Trump’s aggressive trade policy. There are no exceptions to the president’s global tariff on aluminium and steel and no escaping the general volatility and constant uncertainty provoked by a capricious regime. But Britain is lucky not to be a direct target.
Mr Trump has no border-related grievance against the UK, as he does with Mexico and Canada. The balance of bilateral trade is neutral enough for Britain to avoid being listed among the nations that sell more to the US than they buy from it. The White House sees that asymmetry as a devious scam, for which tariffs are a form of retribution.
