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Evening Standard

Henry Saker-Clark

US tariffs are ‘here to stay’, warns Bank of England rate-setter

Bank of England Alan Taylor Donald Trump United States Economy MPC

President Donald Trump said he would be increasing the global tariff rate to 15% (Allison Robbert/AP) - (AP)

US tariffs are “here to stay” and could lead to shockwaves across the economy for “many years”, a Bank of England policymaker has warned.

Alan Taylor, one of the central bank’s nine-strong Monetary Policy Committee (MPC), nevertheless indicated that it would take time for the impact of recent changes to tariff plans to feed through.

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