
Trump’s tariff plans don’t have to spell bad news for Britain
On the face of it, Donald Trump’s threat to impose general import tariffs of 10 to 20 per cent on all goods – and much higher levies on those from China – is bad news for Britain, the US and the world. That protectionism makes us poorer is a lesson which seems to have to be re-learned every generation. The last time America was forced to learn the hard way was when George W Bush tried to protect the US steel industry with punitive tariffs on imports of steel in 2002. A US government review later concluded that the tariffs had cost 200,000 jobs in US by increasing the prices
