Britain ‘at risk of recession' from £22bn Trump tariff blow [Yahoo! Finance]
ZURICH INS GROUP S/ADR (ZURVY)
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Source: Yahoo! Finance
UK GDP would shrink by 0.3pc to 0.75pc if the new levies threatened by the US president are swiftly imposed on top of the 10pc import tax already applied to UK goods, according to Capital Economics. This would mean the economy would suffer a £21.6bn blow if the US president follows through on plans to ramp up the levies to 25pc from June, based on World Bank assessments of UK growth. It comes as Sir Keir Starmer welcomed Mike Johnson, the speaker of the US House of Representatives, to Downing Street earlier today before he addresses Parliament on Tuesday to mark 250 years of independence from London. Paul Dales of Capital Economics said: “With the UK economy currently growing by 0.2-0.3pc a quarter, if this hit came all at once it could trigger a recession.” Stock markets fell after president Trump threatened to impose extra tariffs on Britain and seven other European countries until the United States is ?allowed to buy Greenland. The Prime Minister suggested Britain would
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