Trade secretary says UK’s ‘globally oriented’ economy means it is vulnerable – but it is better positioned than China and EU
- UK economy – live business updates
The UK government is worried a “tariff war” between the US and other countries could lead to higher inflation and unemployment, the trade secretary has said.
Jonathan Reynolds, the business and trade secretary, warned the UK was particularly vulnerable to the impact of US tariffs because it was a “very globally oriented economy” reliant on international trade and investment.
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