The British Chambers of Commerce (BCC) urged the government to maintain a steady approach during the US President's tariff imposition. They stressed that ongoing negotiations are crucial, indicating that the tariffs could destabilize global trade, leading to reduced orders and increased prices. With UK-US trade valued at £300 billion and significant investment on both sides, the BCC warned of the broader economic implications of the tariffs, asserting that no parties would benefit from the current situation. They emphasized the necessity of careful government strategy in ongoing discussions.
"The Government has kept a cool head so far and must continue to negotiate. This is a marathon not a sprint, and getting the best deal for the UK is what matters most."
"Orders will drop, prices will rise, and global economic demand will be weaker as a result. This is a lose-lose situation for everyone."
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