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Business School analyses impact of Trump's tariffs
By: Mariam Zubair
Last updated: Monday, 11 November 2024
Dr Nicolo Tamberi's research suggests that Trump's tariffs—60% on goods from China and 20% on goods from the rest of the world—could reduce UK exports by £22 billion and cut economic output by 0.8%. Key sectors like fishing, petroleum, and pharmaceuticals could be the hardest hit.
This research is important as it not only shows the economic impact on the UK but also the broader effects on global trade. Previous CITP studies also indicate that US citizens could face costs of around $2,000 per year due to these tariffs.
Our Business School continues to be a leading voice in the discourse on international trade policy, providing valuable insights and guiding informed discussions on how these geopolitical shifts can affect both domestic and global economies.
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