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The Conversation

Renaud Foucart, Senior Lecturer in Economics, Lancaster University Management School, Lancaster University

The UK would be lucky to avoid US tariffs – but a global trade war would hurt everyone

United States United Kingdom Donald Trump

Below the Sky/Shutterstock

The first weeks of the Donald Trump’s administration have been marked by a flurry of announcements and U-turns on US trade policy.

One of the first decrees centred on Trump’s favourite word: tariffs. He announced that US consumers and businesses would be taxed an extra 25% when they bought Canadian or Mexican products. (Canadian oil got off more lightly, with a 10% tariff.)

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