BRITAIN FACES A £24B ECONOMIC BLOW AS TRUMP VOWS TO IMPOSE"RECIPROCAL TARIFFS"

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BRITAIN FACES A £24 BILLION ECONOMIC BLOW AS TRUMP VOWS TO IMPOSE"RECIPROCAL TARIFFS" ON NATIONS WHO IMPOSE VAT, PUTTING THE UK AT RISK OF A MULTI-BILLION-POUND RAID.

Britain faces a £24 billion economic blow as Donald Trump vows to impose "reciprocal tariffs" on nations who impose VAT, putting the UK at risk of a multi-billion-pound raid.

Donald Trump's pledge to levy tariffs on nations that charge VAT may have a £24 billion negative impact on the British economy.

A 21 percent levy on goods sent to the US could be the result of the reciprocal tariffs that the US president stated he would impose "for purposes of fairness."

The impact on Britain is still unknown, but he promised to address "each country one by one." According to Trump The typical VAT rate in the UK is now 20% for the majority of goods and service VAT is a tariff.

'I've decided for purposes of fairness that I will charge a reciprocal tariff. It's fair to all. No other country can complain,' as he put them into effect by signing the new order.

Following what has already been a "tough start" to the year, William Bain, head of trade policy at the British Chambers of Commerce, said the measures will add "more cost and uncertainty for investors, businesses, and consumers."

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