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The Guardian - UK

Business

Heather Stewart in Washington and Richard Partington

UK economy faces growth shock from Trump tariffs, says Bank governor

Andrew Bailey United Kingdom Economy Rachel Reeves International Monetary Fund United States Donald Trump Recession

Andrew Bailey gesturing while speaking on a stage — Andrew Bailey said Bank policymakers would have to weigh the risks to growth against an expectation of rapidly rising inflation. Photograph: Ken Cedeno/Reuters

The Bank of England’s governor, Andrew Bailey, has said the UK economy faces a “growth shock” as a result of Donald Trump’s trade policies.

Speaking on the sidelines of the International Monetary Fund (IMF) meetings in Washington, Bailey said that while he did not think the UK was close to recession at the moment, “we are certainly quite focused on the growth shock”.

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