Former Treasury minister Dame Harriett Baldwin has cautioned against the use of tariffs, citing their detrimental effects on global trade. Her comments followed discussions between UK Labour leader Sir Keir Starmer and former U.S. President Donald Trump, focusing on economic policies and deregulation. Baldwin emphasized that tariffs negatively impact all involved parties, whether on the receiving end or the enforcers. She called for awareness of these consequences amid ongoing negotiations between the UK and the US regarding trade agreements and economic collaboration.
Everyone in the economics profession will tell you that tariffs are detrimental for all parties involved. They're bad for those subjected to them and equally damaging for the countries imposing them.
Dame Harriett Baldwin's remarks come amid talks between the UK and US, highlighting the negative impact of tariffs on economic relations.
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