UK Times says "Trump’s tariffs are set to drive down UK economic growth", circa 50% cut ...Middle East

EY’s forecast:

now expects UK gross domestic product (GDP) to grow by 0.8% in 2025, down from their projection of 1% in Februarycut its 2026 forecast from 1.6% to 0.9%, citing longer-term effects hitting the UK

Roughly 16% of UK goods exports are sent to the US, meaning the “baseline” US import tariffs — 10% for most products and 25% for cars, steel, and aluminium — will hurt UK growth by reducing demand for British goods.

Businesses are also expected to scale back investment over the next two years in response to the more challenging environment.

EY cite UK firms preparing for potential supply chain disruption from tariffs by targeting new export markets in Asia, Africa and Australia.

This article was written by Eamonn Sheridan at www.forexlive.com.

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