The United Kingdom, UK, will consult British businesses on how the Government could impose retaliatory trade tariffs on the United States.
This was disclosed by Jonathan Reynolds, the British Secretary of State for Business and Trade on Thursday.
Reynolds told the House of Commons that businesses will be asked over the next four weeks about which US products “could potentially be included in any UK tariff response”.
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He said: “It remains our belief that the best route to economic stability for working people is a negotiated deal with the US that builds on our shared strengths.
“However, we do reserve the right to take any action we deem necessary if a deal is not secured.
“To enable the UK to have every option open to us in future, I am today launching a request for input on the implications for British businesses of possible retaliatory action.
“This is a formal step necessary for us to keep all options on the table. We will seek the views of UK stakeholders over four weeks until May 1, 2025, on products that could potentially be included in any UK tariff response. ”
Recall that the UK was spared the most punitive treatment in US President Donald Trump’s tariff programme on Wednesday night.
The UK was awarded the lowest levy rate on imports of 10%.
DAILYPOST
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