The UK should strike a bargain with the US on economic security to avoid “catastrophic” tariffs when Donald Trump returns to the White House, the Labour chair of the House of Commons business and trade committee has urged.
Liam Byrne said the British government should seek an exemption from any US tariffs by offering to tighten up its inward investment screening programme and introduce a tougher export control regime.
The former cabinet minister told the Financial Times the 10-20 per cent universal tariff on US imports threatened by Trump would be a “catastrophic . . . doomsday scenario” for the UK economy and argued action to avoid them should therefore be a priority.
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