Steel tariffs: UK ‘ready for all situations’, No10 says on Trump threats
10 February 2025
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10 February 2025
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Reem Ibrahim writes in LBC
12 February 2025
Lifestyle Economics
17 March 2025
IEA Executive Director Tom Clougherty has been quoted in CityAM on the threat of tariffs imposed by the Trump administration.
The article said:
“The UK is “ready for all situations” and ministers will “engage as appropriate, No10 has said, in the wake of Donald Trump’s threat to impose tariffs on steel and aluminium imports into the US.
It follows a government minister saying Britain will have to “wait and see” if Donald Trump “gets more specific” about his warning…
Tom Clougherty, executive director at the free-market think tank, the Institute of Economic Affairs (IEA), said: “Tariffs are a tax on domestic consumers. With living costs high and growth sluggish, they are the last thing Britain needs right now.
“That logic doesn’t change just because other countries impose tariffs on the import of your goods. Retaliatory tariffs simply add to the pain.”
He added: “The government should pay little attention to what other countries do in response to US protectionism. The right course for Britain is to trade as freely as possible, whatever the circumstances.”
Read the full article here.
The article said:
“The UK is “ready for all situations” and ministers will “engage as appropriate, No10 has said, in the wake of Donald Trump’s threat to impose tariffs on steel and aluminium imports into the US.
It follows a government minister saying Britain will have to “wait and see” if Donald Trump “gets more specific” about his warning…
Tom Clougherty, executive director at the free-market think tank, the Institute of Economic Affairs (IEA), said: “Tariffs are a tax on domestic consumers. With living costs high and growth sluggish, they are the last thing Britain needs right now.
“That logic doesn’t change just because other countries impose tariffs on the import of your goods. Retaliatory tariffs simply add to the pain.”
He added: “The government should pay little attention to what other countries do in response to US protectionism. The right course for Britain is to trade as freely as possible, whatever the circumstances.”
Read the full article here.
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