The UK has listed 8,000 US goods – from binoculars and bourbon whiskey to automotive parts and cheese – on which any future retaliatory tariffs could be imposed
The UK is ready to fight back against Donald Trump’s tariffs – with retaliatory ones of their own on up to 8,000 products, it is understood.
Britain has published a 400-page list of the US goods on which any future retaliatory tariffs could be imposed, and they include bourbon whiskey, cheese, and diesel and electric cars. The UK has even pressed ahead with talks to reach an economic deal with Washington, following Mr Trump’s levies on British imports on Wednesday.
The “indicative long list” of products has a huge range, from binoculars and toilet seats to meats and fish. The government stressed that not all goods on the list would be subject to any future tariffs, but they are products understood to be in consideration. The US President left country leaders scrambling on Wednesday to find ways to combat his brutal moves.
But already Keir Starmer’s team has worked to form its “cool-headed” approach to Mr Trump’s 10% tariffs. The list, which covers around 27% of British imports of US-origin products, is now subject to a four-week consultation with businesses.
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Jonathan Reynolds, Business Secretary, said: (The) talks with the US will continue to reflect our mandate to deliver economic stability, as we press the case for a trading relationship that supports businesses on both sides of the Atlantic.” The defiant politician also told Sky News Mr Trump “won’t get his own way” despite his vow on Wednesday in Washington.
The consultation will be paused and any measures will be reversed if the UK and US agree a deal, it is believed. Pressure is on to secure this, though, as stock markets were plunged into meltdown on Thursday with more than $2.2trillion wiped off the value of the world’s biggest companies. Retailer JD Sports saw shares dropping by 7.89 power cent. Shell and BP also tanked.
READ MORE: Labour MP on Trump Tariffs: Britain needs to “keep calm and carry on”
But, speaking on Thursday, Mr Starmer said: “Nothing is off the table.” The Prime Minister later added, at an event in Chesterfield, Derbyshire: “I need to act in the national interest. The choice before us is whether to jump into retaliatory action with both feet at the get-go, or continue with our calm approach to negotiate a trade deal to mitigate tariffs if we can.”
The approach of retaliatory tariffs, though, has its critics, including some of feel they would cause the UK further harm amid a situation of economic concern.
Craig Beaumont, of the Federation of Small Businesses, said: “Retaliatory tariffs would double the damage at a time of burgeoning costs and taxes in our country. We are calling on the UK and US Governments for small and medium enterprises to be at the centre of a prosperity deal.”
