The UK government has dismissed claims from the foreign secretary that new U.S. tariffs signal a return to protectionism. David Lammy highlighted growing concerns for the British public regarding the adverse effects of the 10% tariffs on UK exports. Despite ongoing negotiations for a beneficial trade deal with the U.S., Lammy noted that all options remain on the table, focusing on protecting the national interests of British citizens. The tariffs have triggered a slump in global stock markets, raising alarms about price impacts on consumers and a potential shift towards domestic product demand.
Although there are concerns about protectionist measures by the U.S., the UK government insists that it is focused on negotiating a beneficial deal with the U.S.
David Lammy expressed regret over the U.S. moving towards protectionism, highlighting the potential negative impact on British interests and urging the UK to explore all options.
The blanket 10% tariffs on UK exports to the U.S. have caused a significant slump in global stock markets, raising alarms for British economic welfare.
The increase in tariffs, branded as protectionism, may lead to price increases for consumers and greater demand for domestic products, according to economic analysts.
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